The most recent report from the Institute of Statistics unveils promising developments in Pakistan’s trade balance, showcasing a significant decrease in the domestic trade deficit over the past eight months of the ongoing financial year.
As per the report, imports registered a notable decline of 11.87%, totaling $35.22 billion, during the eight-month period. In contrast, exports witnessed a commendable surge of 9%, reaching $20.35 billion within the same timeframe. This considerable rise in exports has played a pivotal role in narrowing the trade deficit.
For the month of February alone, imports experienced a 10% drop to $4.28 billion compared to January figures, while exports saw a slight 8% decrease to $2.57 billion during the same period. Remarkably, the trade deficit in February recorded a notable 13.5% decrease to $1.71 billion compared to the preceding month.
The cumulative trade deficit for the eight-month duration amounted to $14.87 billion, showcasing a remarkable 30% reduction in the trade deficit. These statistics underscore a positive trajectory in Pakistan’s trade balance, signaling enhanced economic stability and resilience amidst global challenges.
