Islamabad June 3 2024: In May 2024, the country’s exports were recorded at $2.792 billion, an increase from $2.197 billion in May 2023, according to data released by the Pakistan Bureau of Statistics.
Imports for the same month were $4.902 billion, compared to $4.304 billion in May 2023. This reflects a 27.08% increase in exports and a 13.89% increase in imports compared to the same month last year.
Month-on-month, the trade deficit narrowed by 15.43% in May 2024, with exports growing by 18.76% and imports rising by 1.16%.
For May 2024, exports were $2.792 billion, up from $2.351 billion in April 2024, while imports were $4.902 billion, slightly higher than the $4.846 billion recorded in April 2024.
The trade deficit contracted by 15.25% in the first 11 months of the current financial year (2023-24) compared to the same period last year.
From July to May 2023-24, local exports grew by 10.65%, reaching $28.070 billion compared to $25.368 billion in the same period last year, according to the Pakistan Bureau of Statistics.
Meanwhile, imports decreased by 2.37%, totaling $49.802 billion, down from $51.010 billion in the same period last year.
