Trade Deficit Shrinks

ISLAMABAD, Nov 4 (APP): The country’s trade deficit witnessed reduction of 1.88 percent during the first four months of current fiscal year (2020-21) as compared to the deficit of the corresponding period of last year.

The deficit during July-October (2020-21) was recorded at $7.577 billion as compared to the deficit of $7.722 billion during July-October (2019-20), showing decline of 1.88 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) here on Wednesday.

During the period under review, the country’s exports registered positive growth of 0.33 percent, by going down from $7.529 billion last year to $7.554 billion during the current year.

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On the other hand, the imports decreased by 0.79 percent, from $15.251 billion last year to $15.131billion during the current year.

Meanwhile, on year-on-year basis, the country’s exports increased from $2.019 billion in October 2019 to $2.081 billion in October 2020, showing positive growth of 3.07 percent.
The imports during the month decreased by 5.73 percent by going down from $4.052 billion last year to $3.820 billion during the current year, the data revealed.

On month-on-month basis, the exports from the country increased by 10.16 percent in October 2020 when compared to the exports of $1.889 billion in
September 2020.

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Likewise, the imports into the country declined by 11.59% in October 2020 as compared to the imports of $4.321 billion in September.