Pakistan's trade deficit shrinks by 7.41% in October

ISLAMABAD: The country’s trade deficit shrank by 7.41 per cent to $1.80 billion in October 2020 as compared to $2.033 billion recorded in the corresponding period of last year, according to figures released by the Pakistan Bureau of Statistics (PBS).

October’s trade deficit registered a 26 per cent decrease as against $2.410 billion in September 2020.

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Cumulatively, the country saw a trade deficit of $7.617 billion during the July-October period.

During October, the country’s exports were recorded at $2.1 billion as compared to $1.887 billion in September 2020, showing an increase of 11.50 per cent. Exports rose by 4.21 percent last month as compared to $ 2.019 billion in October last year.

During July-October, exports totaled $7.576 billion against $ 7.529 billion during the corresponding period of last year showing an increase of 0.62 per cent.

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On the other hand, imports in October were recorded at $ 3.907 billion as compared to $ 4.297 billion in September 2020, showing a decrease of 9.08 per cent. Imports decreased by 3.58 per cent last month as compared to $ 4,052 million in October last year.

During July-October, imports totaled $ 15.193 billion as against $ 15.251 billion during the corresponding period of last year showing a decrease of 0.38 per cent.