Merchandise trade deficit shrinks 34.85 % in 3 months

ISLAMABAD:The country’s merchandise trade deficit plunged by 34.85 percent during the first three 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-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.

Meanwhile, on year-on-year basis, the exports from the country increased by 2.67 percent by growing from $1.723 billion during September 2018 to $1.769 billion in September 2019.

On the other hand, the imports declined by 13.90 percent by going down from $4.396 billion in September 2018 to $3.785 billion in September 2019.

On month-on-month basis, the exports from the country increased by 4.99 percent in September 2019 when compared to the imports of $1.862 billion in August 2019. On the other hand, the imports into the country witnessed increase of 1.42 percent in September 2019 when compared to the imports of $3.732 billion in August 2019.