Islamabad November 1 2023: Pakistan trade deficit increased 38.27 percent during the month of October to USD 1,489 million compared to the previous month, according to data released by Pakistan Bureau of Statistics.
As per the latest data released, exports stood at USD 2,707 million while Imports were USD 4,806 million during October 2023.
The data showed that exports during October 2023 were 9.33 percent higher than exports of September 2023, and 13.55 percent higher compared to exports of October 2022. This is the highest monthly reading since June 2022.
The data showed that imports during October 2023 were 20.33 percent higher than imports of September 2023 and increased by 4.91 percent compared to imports of October 2022.
Resultantly, trade deficit increased by 38.27 percent during the month of October 2023 when compared with data of the corresponding month last year.
However, trade deficit decreased by 34.70 percent during the period from July to October 2023 to USD 7,416 million when compared with data of the corresponding period last year.
Exports during the period from July to October 2023 increased by 0.66 percent to USD 9,617 million when compared with the same period last year while imports during the same period decreased by 18.54 percent to USD 17,033 million.