Trade deficit declines by 4.48% in five months
KARACHI: Pakistan’s trade deficit during the first five months of the current fiscal year declined by 4.48% as compared to July-November of last fiscal.
According to a data revealed by the Pakistan Bureau of Statistics (PBS), the deficit decreased from $10.402 billion in July-November (2014-15) to $9.936 billion in July-November (2015-16). The exports of the country decreased by 13.81% from $9.90 billion in first five months of the current fiscal year to $8.541 billion in same period of last year. The imports into the country during the period also witnessed a decrease of 9.03%, which were recorded $18.477 billion in July-November (2015-16) as compared to that of $20.311 billion in same period of last year.
On month-on-month (MoM) basis, the balance of trade was recorded at $2.25 billion in November 2015 as compared to that of $2.19 billion in October 2015, thus showing an increase of 2.64% in trade deficit. The exports decreased by 3.88 % from $1.72 billion in October to $1.66 billion in November, while the imports decreased by 0.23% from $3.92 billion in October to $3.91 billion in November. Similarly, on year-on-year (YoY) basis, the trade deficit swelled by 37.50 in November 2015 as compared to November 2014 as the exports went down by 15.12 %, while the imports were increased by 8.87%.