Pakistan

Pakistan’s trade deficit increases 56% to $2.2 billion in March

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Web Desk

2 years ago

ISLAMABAD: Pakistan’s trade deficit narrowed by 24.94 percent in the first nine months (July–March) of the current fiscal year 2023–24, as it stood at $17.030 billion as against $22.688 billion during the same period of the previous fiscal year, according to the Pakistan Bureau of Statistics (PBS).

The monthly data released by the bureau showed that the country’s exports during July–March 2023–24 increased by 8 percent to $22.914 billion from $21.036 billion in the corresponding period of the previous fiscal year.

During the first nine months of the current fiscal year, imports declined by 8.65 percent to $39.944 billion as against $43.724 billion in the same period of the previous fiscal year.

March Details

On a monthly basis, the trade deficit widened by 24.56% to $2.171 billion in March 2024, up from $1.743 billion in February 2024. Exports declined by 1.08% to $2.555 billion in March 2024, compared to $2.58 billion in February 2024. Imports rose 9.25% to $4.726 billion in March 2024 from $4.326 billion in January 2024.

The trade deficit widened by 56.30% on a year-on-year basis and stood at $2.171 billion in March 2024, as against $1.389 billion during the same month of 2023.

Imports grew by 25.86% on a year-on-year basis and stood at $4.726 billion in March 2024 as against $3.755 billion in March 2023.

Web Desk