Pakistan’s trade deficit narrowed by 39.62 percent to $23.713 billion during the first ten months (July-April) of the current fiscal year 2022-23 (FY23) compared to $39.272 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said on Tuesday.
The country’s exports during July-April (2022-23) were recorded at $23.174 billion against the exports of $26.247 billion in July-April of 2021-22, showing a decline of 11.71 percent, according to the trade data released by PBS on Tuesday.
The imports decreased by 28.44 percent during the period under review, going down from $65.519 billion last year to $46.887 billion during the current year.
April’s performance YoY
On a year-on-year basis, exports witnessed a decline of 26.68 percent and were recorded at $2.124 billion in April 2023 against the exports of $2.897 billion in April 2022.
The imports also decreased to $2.953 billion in April 2023 from $6.661 billion in April 2022, showing negative growth of 55.67 percent. The trade deficit narrowed by 77.98 percent on a YoY basis to $829 million in April 2023 compared to $3.764 billion in April 2022.
Source: Pro Pakistani