Islamabad July 3 2023: Pakistan trade deficit decreased 14.76 percent during the month of June from USD 2,128 million, according to data released by Pakistan Bureau of Statistics.
Moreover, trade deficit also decreased by 43.03 percent during the fiscal year, period from July to June 2023, to USD 27,547 million when compared with data of the corresponding period last year. The trade deficit decrease 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 2,366 million while Imports were USD 4,180 million during June 2023.
The data showed that exports during June 2023 were 7.75 percent higher than exports of May 2023, while 18.72 percent lower compared to exports of June 2022.
The data showed that imports during June 2023 were 3.42 percent lower than imports of May 2023 and decreased by 46.80 percent compared to imports of June 2022.
Resultantly, Trade deficit decreased by 63.32 percent during the month of June 2023 when compared with data of the corresponding month last year.
Exports during the period from July to June 2023 decreased by 12.71 percent to USD 27,744 million when compared with the same period last year while imports during the same period decreased by 31.00 percent to USD 55,291 million.