ISLAMABAD: The total import bill of Pakistan has declined by 12.72 per cent in the first quarter (July – September) of the fiscal year 2022/2023, according to data released by Pakistan Bureau of Statistics (PBS).
The import bill of the country was $16.33 billion in the first quarter of the current fiscal year as compared with $18.72 billion in the corresponding period of the last fiscal year.
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Exports of the country, however, exhibited a nominal 2 per cent growth to $7.12 billion during the quarter under review as compared with $7 billion in the same quarter of the last fiscal year.
The fall in import bill resulted in trade deficit contraction of 21.42 per cent. The trade deficit of the country fell to $9.21 billion during July – September 2022 as compared with the deficit of $11.72 in the same quarter of the last fiscal year.
READ MORE: Pakistan’s trade deficit narrows by 18% in July 2022
In September 2022 the trade deficit contracted by 30.62 per cent on Year on Year (YoY) basis.
The trade deficit has been recorded at $2.88 billion in September 2022 when compared with $4.15 billion in the same month of the last year.
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The import bill for the month under review recorded a decline of 20 per cent to $5.27 billion in September 2022 when compared with $6.56 billion in the same month of the last year.
Whereas, the exports of the country also recorded a decline of one per cent to $2.39 billion in September 2022 when compared with $2.41 billion in the same month of the last year.
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