Merchandise Trade Deficit Shrinks 33.52% In 4 Months

The country's merchandise trade deficit plunged by 33.52 percent during the first four months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Nov, 2019 ) :The country's merchandise trade deficit plunged by 33.52 percent during the first four months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

According to the data released by the Pakistan Bureau of Statistics (PBS) Friday, the trade deficit during July-October (2019-20) was recorded at $7.776 billion against the deficit of $11.696 billion during July-October (2018-19).

The exports during the period increased from $7.270 billion during last year to $7.547 billion during the current fiscal year, showing growth of 3.81 percent.

On the other hand, the imports into the country witnessed decline of 19.

21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.

Meanwhile, on year-on-year basis, the exports from the country increased by 6.75 percent by growing from $1.896 billion during October 2018 to $2.024 billion in October 2019.

On the other hand, the imports declined by 15.14 percent by going down from $4.801 billion in October 2018 to $4.074billion in October 2019.

On month-on-month basis, the exports from the country increased by 14.41 percent in October 2019 when compared to the imports of $1.769 billion in September 2019. On the other hand, the imports into the country witnessed increase of 7.64