Islamabad December 2 2023: Pakistan trade deficit decreased 13.16 percent during the month of November to USD 1,888 million compared to the previous month, 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 2,572 million while Imports were USD 4,460 million during November 2023.
The data showed that exports during November 2023 were 4.39 percent lower than exports of October 2023, while 7.66 percent higher compared to exports of November 2022.
The data showed that imports during November 2023 were 8.36 percent lower than imports of October 2023 and decreased by 13.47 percent compared to imports of November 2022.
Resultantly, trade deficit decreased by 13.16 percent during the month of November 2023 when compared with data of the corresponding month last year.
Moreover, trade deficit also decreased by 33.59 percent during the period from July to November 2023 to USD 9,378 million when compared with data of the corresponding period last year.
Exports during the period from July to November 2023 increased by 1.93 percent to USD 12,172 million when compared with the same period last year while imports during the same period decreased by 17.32 percent to USD 21,550 million.
