Trade deficit widens by 38.27% MoM in October

MG News | November 01, 2023 at 05:46 PM GMT+05:00

0:00

November 01, 2023 (MLN): Pakistan's trade deficit for the month of October was $2.099 billion compared to a deficit of $1.518bn from the previous month, worsening by 38.27% MoM.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit compared to October 2022's deficit improved by 4.46% as it stood at $2.2bn.

Exports in October increased by 9.33% MoM to $2.71bn compared to $2.48bn in September 2023.

Similarly, compared to October 2022, exports increased by 13.55% YoY.

However, imports during the review month also rose by 20.33% MoM, clocking in at $4.81bn compared to $4bn in the previous month.

While compared to October 2022, imports increased by 4.91% YoY as it stood at $4.58bn.

On a cumulative basis, in 4MFY24, the trade deficit improved by 34.70% YoY to $7.42bn as compared to $11.36bn in 4MFY23.

	Oct-23	Sep-23	Aug-23	Jul-23	Jun-23	May-23
USD Million
Exports	2,707	2,476	2,366	2,068	2,356	2,200
Imports	4,806	3,994	4,528	3,705	4,219	4,328
Trade Deficit	-2,099	-1,518	-2,162	-1,637	-1,863	-2,128
MoM %
Exports	9.33%	4.65%	14.41%	-12.22%	7.09%	2.95%
Imports	20.33%	-11.79%	22.21%	-12.18%	-2.52%	44.41%
Trade Deficit	38.27%	-29.79%	32.07%	-12.13%	-12.45%	147.44%
YoY %
Exports	13.55%	1.23%	-4.67%	-8.25%	-19.26%	-16.22%
Imports	4.91%	-25.30%	-25.42%	-25.80%	-46.46%	-36.14%
Trade Deficit	4.46%	-47.67%	-39.76%	-40.23%	-62.45%	-48.74%

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