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Trade deficit narrowed by 5.15pc

Trade deficit narrowed by 5.15pc

LAHORE:  Pakistan’s trade deficit narrowed by 5.15 per cent during the first three months of the current fiscal year as exports expanded by 9.23 per cent while imports witnessed increase of only 2.99 per cent as compared to the same period of last year.

On year-on-year basis, the trade deficit decreased by 10.49 per cent in September 2013 when compared to the deficit of the same month of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).

According to break figures, the exports from the country during July-September (2013-14) were recorded at $6.712 billion against the exports of $6.145 billion recorded during July-September (2012-13).

On the other hand, the imports into the country during the first three months of the current fiscal year were recorded at $11.177 billion against the imports of $10.853 billion during the corresponding months of last year.

Based on the figures, the trade deficit during July-September (2013-14) was recorded at $4.465 billion against the deficit of $4.708 billion in July-September (2012-13), showing negative growth of 5.15 per cent.

Meanwhile, on year-on-year basis, the exports from the country in September 2013 increased by 19.22 per cent to $2.622 billion when compared to the exports of $2.199 billion in September 2012.

On the other hand, the imports into the country increased by 8.14 per cent by increasing from $3.506 billion in September 2012 to $3.791 billion in September 2013, the PBS data revealed.

The trade deficit in September 2013 was recorded at $1.17 billion against the deficit of $1.3 billion in September 2012, showing negative growth of 10.49 per cent.

Similarly on month-on-month basis, the exports in September 2013 surged by 31.37 per cent when compared to the exports of $1.996 billion in August 2013.

The imports also increased by 6.15 per cent in September 2013 when compared to the imports of $3.572 billion in August 2013, according to the data. Based on the figures, the deficit in September 2013 stood at $1.17 billion against the deficit of $1.576 billion in August 2013, showing negative growth of 25.78 per cent.