Islamabad September 3 2024: In August 2024, the country’s trade deficit decreased by 20.5 percent to $1.675 billion as exports were recorded at $2.743 billion, according to data released by the Pakistan Bureau of Statistics.
Imports for the same month were $4.418 billion, compared to $4.474 billion in August 2023. This reflects a 15.9% increase in exports and a 1.3% decrease in imports compared to the same month last year.
Month-on-month, the trade deficit narrowed by 12.0% in August 2024, with exports growing by 18.9% and imports rising by 4.9%.
For August 2024, exports were $2.743 billion, up from $2.307 billion in July 2024, while imports were $4.211 billion, slightly higher than the $4.211 billion recorded in July 2024.
The trade deficit contracted by 4.2% in the first two months of the current financial year (2023-24) compared to the same period last year.
From July to August 2024-25, local exports grew by 14.0%, reaching $5.1 billion compared to $4.4 billion in the same period last year, according to the Pakistan Bureau of Statistics.
Meanwhile, imports increased by 5.7%, totaling $8.6 billion, up from $8.1 billion in the same period last year.
