ISLAMABAD: The trade deficit has narrowed by 26.52 percent in first eight months (July – February) 2019/2020 owing to fall in import bill.
The trade deficit reduced to $15.773 billion during first eight months of current fiscal year as compared with the deficit of $21.467 billion in the corresponding months of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Wednesday.
The import bill significantly reduced by 14.06 percent during the period. The import bill of the country was at $31.42 billion during July – February 2019/2020 as compared with $36.563 billion in the corresponding period of the last fiscal year.
The exports of the country also increased by 3.65 percent during the period under review. The exports grew to $15.648 billion during first eight months of current fiscal year as compared with $15.097 billion in the same period of the last fiscal year.
The exports however increased by 13.82 percent to $2.14 billion in February 2020 as compared with $1.88 billion in the same month of the last year.
The imports in February 2020 fell by 1.71 percent to $4.073 billion as compared with $4.144 billion in the same month of the last year.
The trade deficit for the month of February 2020 was at reduced by 14.61 percent to $1.93 billion as compared with the deficit of $2.263 billion in the same month of the last year.
