ISLAMABAD, Dec 12 (APP):Country’s trade deficit witnessed significant reduction in first five months (July-November) of current financial year and fell by 33.04% as compared to the corresponding period of last year.
During the period under review country’s exports registered about 4.97% growth, where as imports reduces by 18.41%, according the foreign trade statistics, released by the Pakistan Bureau of Statistics.
During the period form July-November, 2019, exports witnessed an increase of 4.07%, as it reached to $9.545 billion against the exports of $9.109 billion of the same period of last year, it added.
Meanwhile, country’s imports witnessed significant decrease of 18.41% as it went down from $23.548 billion in first five months of last financial year to $19.213 billion of same period of current financial year, it said.
On month on month basis, the trade deficit shrinks 29.65% in month of November, 2019 as against the same month of last year. The exports of the country surged by 9.35% and imports reduced by 13.99%.
During the month of November, exports was recorded at $2.001 billion as compared the exports of $1.839 billion of same month of last year, the data revealed. Meanwhile, imports of the country during the period under review came down to $3.940 billion from $4.581 billion of same month of last financial year.
The trade deficit narrowed by 5.90% in month of November as compared to the previous month (October) of current financial year. The exports from the country witnessed negative growth of 0.64%, where as the imports into the country also reduced by 3.29% respectively, it said.
The exports from the country was recorded at $2.001 billion in November, 2019 as against the exports of $2.024 billion of October, 2019, where as imports also fell to $3.940 million as against $4.074 million of the month of October of current year, it added.