Trade deficit shrinks 25pc in 3QFY20

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ISLAMABAD: The country’s trade deficit reduced by 25.68 per cent in the first three quarters of the current financial year as compared to the corresponding period of last year.

During the period under review, the country’s exports registered about 3.92pc decrease, while the imports witnessed a sharp decline of 16.50pc, said the foreign trade statistics release by the Pakistan Bureau of Statistics (PBS).

During the period from July-March (2019-2020), the exports witnessed a decrease of 3.92pc to reach at $18.408 billion against the export of $19.160 billion of the same period of last year, it added.

Meanwhile, the country’s imports witnessed a significant decrease of 16.50pc to rop from $45.393 billion in 3QFY19 to $37.905 billion in 3QFY20.

Based on the figures, the trade deficit during the period under review was recorded at $19.497 billion against the deficit of $26.233 billion during last year, showing a decline of 25.68pc.

On year-on-year basis, the exports from the country decreased by 54.19pc during April 2020 as against the exports in the same month of last year. The exports during April 2020 were recorded at $0.957 billion against the export of $2.089 billion in April 2019.

The imports also witnessed a sharp decline of 34.49pc during the month as these declined from $4.714 billion in April 2019 to $3.088 billion in April 2020.

On month-on-month basis, the exports from the country decreased by 47.24pc in April 2020 when compared to the export of $1.814 billion in March 2020.

Likewise, the imports into the country declined by 6.88pc in April 2020, when compared to the import of $3.316 billion in March this year.

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