COVID-19: Pakistan’s exports plunge 54pc in April

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ISLAMABAD: Owing to the closure of global markets amid COVID-19 outbreak, Pakistan’s exports fell by a massive 54pc in April 2020, as compared to the same month of last year.

According to the data released by Pakistan Bureau of Statistics (PBS), the country’s exports stood at $957 million in April 2020, as compared to exports worth $2.089 billion in April 2019 and $1.8 billion in March 2020.

On a cumulative basis, the country’s exports during the first 10 months (July-April) of the current fiscal year witnessed a decline of 3.92pc, from $19.1 billion to $18.4 billion.

On the other hand, the country’s imports stood at $3.08 in April 2020 as compared to $4.7 billion last year, showing a decline of 34pc.

On a cumulative basis, the country’s imports witnessed a 16.5pc fall during the first 10 months of the ongoing year, from $45.3 billion in 10MFY19 to $37.9 billion.

The country’s trade deficit narrowed 19pc to $2.131 billion in April 2020.

During the first 10 months of the ongoing fiscal year, the country’s trade deficit plunged by around 26pc, from $26.2 last year to $19.5 billion.

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