Trade deficit worsens by 30% MoM in August

MG News | September 01, 2023 at 07:55 PM GMT+05:00

0:00

September 01, 2023 (MLN): Pakistan's trade deficit for the month of August was $2.126 billion compared to a deficit of $1.637bn from the previous month, worsening by 29.86% MoM.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit compared to August 2022's deficit improved by 40.46% as it stood at $3.57bn.

Exports in the month of August increased by 14.27% MoM to $2.26bn compared to $2.07bn in July 2023.

Meanwhile, compared to August 2022, exports decreased by 4.83% YoY.

Imports in August 2023 surged by 21.16% MoM, clocking in at $4.49bn compared to $3.71bn in July 2023.

While compared to August 2022, imports decreased by 25.85% YoY as it stood at $6.1bn.

On a cumulative basis, in 2MFY24, the trade deficit improved by 40.29% YoY to $3.76bn as compared to $6.3bn in 2MFY23.

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