Pakistan's Jul-Dec trade deficit shrinks 32.65pc to $17.13bn YoY
Last updated on: 04 January,2023 09:05 am
Pakistan's Jul-Dec trade deficit shrinks 32.65pc to $17.13bn YoY
ISLAMABAD (Web Desk) - The country s trade deficit was contracted by 32.65 per cent to $17.133 billion during the first half (July-December) of 2022-23 as compared to $25.438 billion in the corresponding period of last fiscal year.
The data released by the Pakistan Bureau of Statistics (PBS) says the exports during July-December (2022-23) were recorded at $14.249 billion against the exports of $15.125 billion in July-December of 2021-22, showing a decline of 5.79pc.
The imports fell by 22.63pc during the period under review by going down from $40.563 billion last year to $31.382 billion during the current year.
On a year-on-year basis, the exports witnessed a decline of 16.64 per cent and were recorded at $2.304 billion in December 2022 against the exports of $2.764 billion in December 2021.
The imports also decreased to $5.161 billion in December 2022 from $7.580 billion in December 2021, showing negative growth of 31.91pc.
The trade deficit narrowed by 40.68pc on a YoY basis to $2.857 billion in December 2022 compared to $4.816 billion in December 2021.
On a month-on-month basis, the exports during December 2022 declined by 3.64 per cent when compared to the exports of $2.391 billion in November 2022.
The imports into the country were decreased.0.41 per cent in December 2022 when compared to the imports of $5.182 billion in November 2022, according to the data.
The PBS data further shows that the trade deficit expanded by 2.36pc on month-on-month basis and clocked at $2.857 billion in December 2022 as compared to $2.791 billion in November 2022.