Trade Deficit Narrows 15.2% YoY in 11MFY24
Karobar
Lahore: Pakistan's trade deficit in the eleven months of fiscal year 2023-24 has reduced by 15.2% YoY to $21.73bn as compared to a deficit of $25.64bn in 11MFY23.
Meanwhile, in May 2024, the trade deficit has edged higher by 0.1% YoY to $2.11bn as compared to a deficit of $2.11bn recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).
On a monthly basis, the trade deficit has reduced by 15.4% compared to a deficit of $2.5 billion recorded in April 2024.
Read more: IMF Predicts Significant Rise in Pakistan's Trade Deficit
Exports in May rose by 27.1% YoY to $2.79bn compared to $2.2bn in May 2023.
On a monthly basis, exports have increased by 18.8% compared to the $2.35bn figure reported in April 2024.
The country's expenditure on imports during the review month increased by 13.9% YoY, clocking in at $4.9bn compared to $4.3bn in the same month last year.
Similarly, compared to April 2024, imports rose by 1.2% MoM compared to $4.85bn.
