Significant decline in import bill sharply narrows trade deficit by 35 percent in first quarter

ISLAMABAD: Significant decline in import bill helped to sharply narrow the trade deficit by 35 percent during first quarter of current fiscal year, according to data released Pakistan Bureau of Statistics (PBS) on Friday.

The trade deficit narrowed by 35 percent to $5.72 billion during July – September 2019 of current fiscal year as compared with deficit of $8.79 billion in the corresponding period of the last fiscal year.

The total import bill of the country fell by 21 percent to $11.25 billion during first quarter of the current fiscal year as compared with $14.16 billion in the same period of the last fiscal year.

Meanwhile, the exports have posted 3 percent growth to $5.52 billion during July – September 2019 as compared with $5.37 billion in the same period of the last fiscal year.

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