Islamabad August 1 2023: Pakistan trade deficit decreased 41.16 percent during the month of July to USD 2,057 million compared to the same period last year, according to data released by Pakistan Bureau of Statistics.
The trade deficit decrease 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 2,057 million while Imports were USD 3,664 million during July 2023.
The data showed that exports during July 2023 were 8.57 percent lower than exports of July 2022, while 12.62 percent lower compared to exports of June 2023.
The data showed that imports during July 2023 were 26.44 percent lower than imports of July 2022 and decreased by 13.15 percent compared to imports of June 2022.
Resultantly, trade deficit decreased by 41.16 percent during the month of July 2023 when compared with data of the corresponding month last year.
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