Islamabad January 2 2023: Pakistan trade deficit decreased 34.29 percent during the month of December to USD 1,702 million compared with the same month last year, according to data released by Pakistan Bureau of Statistics.
The trade deficit decrease on higher exports and lower imports. Imports fall due to record high interest rates, inflation and economic slowdown at a time when country’s currency is facing worst depreciation.
As per the latest data released, exports stood at USD 2,812 million, high of 18 months, while Imports were USD 4,514 million during December 2023.
The data showed that exports during December 2023 were 9.29 percent higher than exports of November 2023, while 22.21 percent higher compared to exports of December 2022.
The data showed that imports during December 2023 were 0.55 percent lower than imports of November 2023 and decreased by 12.25 percent compared to imports of December 2022.
Resultantly, trade deficit decreased by 13.43 percent during the month of December 2023 when compared with data of the corresponding month last year.
Moreover, trade deficit also decreased by 34.29 percent during the period from July to December 2023 to USD 11,148 million when compared with data of the corresponding period last year.
Exports during the period from July to December 2023 increased by 5.17 percent to USD 14,981 million when compared with the same period last year while imports during the same period decreased by 16.28 percent to USD 26,129 million.
