Pakistan's trade deficit narrows by over 35% in 1st nine months of FY23

Pakistan's trade deficit fell more than 35 per cent in the first nine months of the current fiscal year starting from July 2022 to June 2023 as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) said.

Based on the difference between exports and imports figures, the trade deficit was recorded at $22.900 billion from July 2022 to March this year against a deficit of $35.509 billion during the same period of the last year, showing a negative growth of 35.51 per cent, according to the PBS data released on Tuesday.

The exports from July 2022 to March this year were recorded at $21.046 billion against the exports of $23.350 million in the same period of last fiscal year, showing a decline of 9.87 per cent, the PBS data showed as quoted by Xinhua news agency report.

On the other hand, the country's imports fell by 25.34 per cent from $58.859 billion during the same period of last year to $43.946 billion in the current fiscal year.

--IANS

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