{"id":11837,"date":"2022-11-03T16:22:16","date_gmt":"2022-11-03T16:22:16","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=11837"},"modified":"2022-11-03T16:22:16","modified_gmt":"2022-11-03T16:22:16","slug":"merchandise-trade-deficit-shrinks-by-26-6","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/merchandise-trade-deficit-shrinks-by-26-6\/","title":{"rendered":"Merchandise trade deficit shrinks by 26.6%"},"content":{"rendered":"<p>The government\u2019s policy of curtailing unnecessary imports has started to pay dividends as the country\u2019s merchandise trade deficit for the first four months of the ongoing fiscal shrank by 26.6% to $11.47 billion against $15.62 billion in the same period of the FY2021-22.<\/p>\n<p>Imports in July-Oct 2022-23 shrank by 16.2% to $21.02 billion from $25.1 billion in the same period last year; however, the exports edged up 0.94% to $9.55 billion against $9.46 billion in the same period last year.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/trade-deficit-likely-to-increase-by-3bn-amid-flood-devastation.html\">Trade deficit likely to increase by $3bn amid flood devastation<\/a><\/strong><\/em><\/p>\n<p>On the other hand, Pakistan imported nearly 27.2% fewer goods in October 2022 and sold 3.77% less products abroad compared to the corresponding month of the last fiscal, according to <a href=\"https:\/\/www.pbs.gov.pk\/\">Pakistan Bureau of Statistics<\/a> (PBS) data.<\/p>\n<p>Exports in October 2022 fell by 3.77% to $2.37 billion from $2.464 billion in the same month a year ago, while imports dropped from 27.2% to $4.636 billion from $6.37 billion in October 2021.<\/p>\n<p>In October, the trade deficit was reduced by 42% to $2.265 billion, which is a 23-month low. The deficit was $3.91 billion in the same month last year. Comparing monthly trade performance with the previous month (September), goods exports in October 2022 fell 3.1% from $2.45 billion in the previous month, while imports slumped 13.3% compared to September imports of $5.35 billion.<\/p>\n<p>However, it is encouraging to note that imports have been trending downwards since the start of this fiscal year as in July imports contracted 10.4%, in August 7.7%, in September 19.7% and now in October they decreased 27.2% over their respective corresponding months of last year, the statistical office\u2019s trade bulletin revealed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government\u2019s policy of curtailing unnecessary imports has started to pay dividends as the country\u2019s merchandise trade deficit for the first four months of the ongoing fiscal shrank by 26.6% to $11.47 billion against $15.62 billion in the same period of the FY2021-22. Imports in July-Oct 2022-23 shrank by 16.2% to $21.02 billion from $25.1 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":11838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[2320,2632,6084,138],"class_list":["post-11837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","tag-pakistan-bureau-of-statistics","tag-pbs","tag-trade","tag-pakistan"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/11837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=11837"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/11837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/11838"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=11837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=11837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=11837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}