Pakistan August Trade Gap Drops To $113 M

Pakistans trade deficit dropped to a provisional $113 million in August from $237 million in July, and $219 million in August 1996, the Federal Bureau of Statistics said on Friday.

Exports rose 4.1 percent to a provisional $689 million in August from $662 million in July, and 3.8 percent from $664 million in August 1996. Imports fell 10.8 percent to a provisional $802 million from $889 million in July and 9.2 percent compared to $883 million in August 1996. The trade gap for the first two months of fiscal 1997/98 (July/June) dropped to $350 million from $491 million in the same year-ago period. Main exports were cotton, textiles, leather goods, sports goods and rice.

Main imports were crude oil and products, palm oil, machinery, wheat, iron, steel, sugar and vehicles.