Trade deficit shrinks 27.11pc in FY20
Last updated on: 07 July,2020 05:25 pm
On year-on-year basis, the exports from the country decreased by 6.
ISLAMABAD (Dunya News) – The country s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.11% as compared to the previous year.
The Country s deficit during July-June (2019-20) stood at $23.183 billion against the deficit of $31.805 billion during July-June (2018-19), according to the latest data of Pakistan Bureau of Statistics (PBS).
During the period under review country s exports registered about 6.84% decrease, by going down from $22.958 billion last year to $21.387 billion during the current year whereas the imports declined from $54.763 billion to $44.570 billion, showing sharp decline of 18.61%.
Meanwhile, on year-on-year basis, the exports from the country decreased by 6.
52% during June 2020 as against the exports same month of last year. The exports during June 2020 were recorded at $1.592 billion against the exports of $1.703 billion in June 2019.
The imports also witnessed sharp decline of 14.66% during the month as these declined from $4.353 billion in June 2019 to $3.715 billion in June 2020.
On month-on-month basis, the exports from the country increased by 14.04 percent in June 2020 when compared to the exports of $1.396 billion in May 2020. Likewise, the imports into the country also increased by 29.76% in June 2020 when compared to the imports of $2.863 billion in May.