Pakistan’s trade deficit decreased by 17.09% in the first ten months (July-April) of fiscal year 2023-24, totaling $19.514 billion, down from $23.535 billion in the same period the previous year, according to the Pakistan Bureau of Statistics (PBS).
In April 2024, however, the trade deficit surged by 180.58% year-on-year to $2.374 billion from $846 million in April 2023.
The country’s exports rose by 9.10% to $25.280 billion from July to April 2023-24, up from $23.171 billion in the corresponding months of the last fiscal year.
Conversely, imports fell by 4.09% to $44.794 billion in the same period, down from $46.706 billion a year earlier.
Despite the overall decrease, imports in April 2024 jumped by 58.43% year-on-year to $4.723 billion, and exports increased by 10.02% to $2.349 billion.
From December to March, export proceeds showed double-digit growth, then moderated.
Month-over-month, the trade deficit widened by 3.16% to $2.374 billion in April 2024 from $2.301 billion in March 2024.
Exports in April dropped by 8.67% to $2.349 billion from $2.572 billion in March, while imports decreased by 3.08% to $4.723 billion from $4.873 billion.
