Trade deficit shrinks 30.67pc in first half of FY20

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ISLAMABAD: Pakistan’s trade deficit witnessed a significant reduction in the first half (July-December) of the current fiscal year (FY20), as it fell by 30.67pc when compared with the corresponding period of last year.

During the period under review, the country’s exports registered 3.17pc growth, whereas imports reduced by 17.13pc, according to data released by the Pakistan Bureau of Statistics on Tuesday.

During the July-December 2019 period, the country’s exports were recorded at $11.535 billion as against the exports of $11.181 billion in the same period of last year. Meanwhile, the country’s imports went down from $27.952 billion in first six months of the last financial year to $23.163 billion in the same period of FY20.

On a month-on-month basis, the trade deficit shrank 15.99pc in December 2019 as compared to December 2018. Exports reduced by 3.96pc while imports decreased by 10.33pc.

During the month under review, Pakistani exports were recorded at $1.990 billion as compared the exports of $2.072 billion in the same month of last year, while imports came down from $4.405 billion to $3.950 billion.

The trade deficit grew by 1.61pc in the month of December when compared with November 2019. The exports from the country witnessed a decrease of 1.04pc in December 2019, whereas imports increased by 0.25pc.

The country’s exports were recorded at $1.990 billion in December 2019 as against the exports of $2.001 billion in November 2019. On the other hand, imports enhanced to $3.950 million from $3.940 million in November 2019.

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