Exports are rising for the first time in fifteen years, with imports falling
During the first four months of the fiscal year 2019-20, Pakistan’s trade deficiency decreased significantly by 33.5pc stated by a commerce ministry report exposed on Saturday.
Trade deficiency dropped from $11.7 billion recorded from July-October of FY18-19 to $7.8 billion during the same period this year. The decrease in trade deficit can largely attributed to a fall in imports, which reported a decline of 19.3pc. During the interval of July-October 2019 Imports amounted to $15.3 billion as opposed to $19 billion during the same period last year. At the same time, exports testified a nominal increase of 3.6pc and rise from $7.3 billion to $7.5 billion. During the month of October, trade deficit drop by 32pc and reported at $1.97 billion as opposed to last year’s $2.9 billion. Exports in October increased by 6pc, rising from $1.9 billion to $2 billion, while imports drop by 17pc and were recorded at $3.9 billion as opposed to last year’s $4.8 billion.