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Trade deficit down by 5.5pc

Trade deficit down by 5.5pc

ISLAMABAD: Pakistan’s trade deficit has reduced by 5.52 per cent in the period from July to November this year as against the same period last year.

The data released by Pakistan Bureau of Statistics shows that trade deficit has gone down to $7.743 billion in July-November 2013 as compared to $8.195 billion last year after a 3.10 per cent increase in exports and 0.77 per cent decrease in imports.

However, the trade deficit in November 2013 against the same month last year increased by 7.95 per cent with deficit rising from $1,711 million in November 2012 to $1,847 million in November 2013.

Figures show that the trade deficit increased in November this year than the previous month. Exports stood at $1,804 million in November against $1,864 million in October this year, registering a decrease of 3.22 per cent. Likewise, imports stood at $3,651 million in November as compared to $3,281 million in October this year, reflecting an increase of 11.28 per cent.

The data shows that exports witnessed a decrease of 4.85 per cent in November this year against the same month last year. The total goods exported in November this year stood at $1,804 million as compared to $1,896 million in the same month last year. Likewise, import of the goods registered an increase of 1.22 per cent in November this year against the same month of last year. The total goods imported in November 2013 stood at $3,651 million as compared to $3,607 million in the same month last year.