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Trade deficit decreased by 35% during July-Oct of FY 2020

Salima Bhutto by Salima Bhutto
November 13, 2019
India plans to cut supplies from Turkey, Malaysia over Kashmir comments

India plans to cut supplies from Turkey, Malaysia over Kashmir comments

ISLAMABAD: Pakistan’s trade deficit narrowed by around 35 percent in the first four months (July to October) of the current fiscal year, a report by the Ministry of Commerce revealed.
 Trade deficit fell from $11.7 billion recorded from July-October of Fiscal Year 18-19 to $7.8bn during the same period of the current fiscal year.

Also read: Saudi oil giant Aramco heads for record-setting market debut

The decrease in trade deficit can largely be attributed to a fall in imports of the country, which recorded a decline of 19.3 %. Imports during the period of July-October 2019 amounted to $15.3bn as opposed to $19bn during the same period of the past year.
Exports, meanwhile, saw a scanty rise of 3.6% and grew from $7.3bn to $7.5bn.
During October, trade deficit decereased by 32% and was recorded at $1.97bn as opposed to previous year’s $2.9bn.

Also read: FBR reports Rs163 bn shortfall in four month’s revenue

Exports during October of the current fiscal year increased by 6%, rising from $1.9bn to $2bn. Imports decreased by 17% and were recorded at $3.9bn as opposed to $4.8bn last year.

 

Tags: DecreasedeficitexportsIslamabadMM groupmm newsmm tv
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