Business

Trade Deficit Narrows To $23 Billion

The Pakistan Bureau of Statistics has released trade figures for 2019-20, which show that the trade deficit has narrowed to 23 billion.

That’s 10 billion less than last year’s 31 billion trade deficit. Between July 2019 and June 2020, the trade deficit decreased by 27.11%.

In one year, the trade deficit stood at  23.18 billion, while exports fell by 6.84 percent.

Pakistan’s exports have reached $21.3 billion and imports have declined by 18.61%. Imports from July 2019 to June 2020 were $44.57 billion.

Imports fell by $10.2 billion during the last fiscal year.

In June 2020, the trade deficit decreased by 19.89%.

In June 2020, the trade deficit stood at Rs 2.12 billion.

In the last month of the previous financial year, exports have declined by 6.52%. Exports reached $1.59 billion in June. Imports fell 14.66 percent to $3.71 billion.

The production in Jul-Mar 2019-20 as compared to Jul-Mar 2018-19 has increased in Non- Metallic Mineral Products,  fertilizers and Paper & Board while it has significantly decreased in respect of Textile, Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Automobiles, Iron & Steel Products and Electronics.

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