Exports dipped 7.65 per cent in August

Exports falls 7.65 per cent during the second month of the current fiscal year, showed data released by the Pakistan Bureau of Statistics on Friday.

ISLAMABAD: The export proceeds fell to $1.85 billion in August as against $2.01bn over the same month of last year. However, the cumulative export proceeds witnessed an uptick of 2.79pc to $3.75bn in July-August period of 2019-20 over $3.65bn in the corresponding period last year.Encouragingly, during July exports grew by 15.65pc on a year-on-year basis.

Contrary to this, the imports in July-August clocked in at $7.67bn, down 21.41pc from $9.76bn over corresponding period last year. The decline is significantly steeper as the value of imported goods in August dipped by 26.26pc to $3.65bn as against $4.96bn over the corresponding month last year.

The country’s trade deficit shrank by 35.86 per cent to $3.92 billion in July-August from $6.11bn over the corresponding months last year. On a monthly basis, the trade deficit decelerated by a hefty margin of 38.98pc to $1.79bn in August as against $2.94bn over the corresponding month last year.

The government has set a target to bring down annual trade gap to $27.476bn by June 2020.

Satastics Courtesy: Pakistan Bureau Of Statistics

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