Business

Trade deficit decreases by 2.48pc

KARACHI: The trade deficit of the country decreased by 2.48 per cent during the fiscal year 2013-14, however, the exports didn’t achieved the desired target, ARY News reported.

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The figures showed that exports from the country during July-June (2013-14) were recorded at $25.132 billion against the exports of $24.460 billion recorded during July-June 2012-13.

Meanwhile, the imports into the country during the period under review were recorded at $45.113 billion against the imports of $44.950 billion during the corresponding period of last year.

The trade deficit during July-June (2013-14) was recorded at $19.981 billion as compare to the deficit of $20.490 billion in July-June (2012-13), showing negative growth of 2.48 per cent.

Federal Commerce Minister Khurram Dastagir said that in order to double the export of the country, the implementation of devised strategy has been started. He said GSP status has created a positive impact on the economy of the country adding that growth in trade despite of weakening currency, water and electricity shortage and terrorism is heartening.

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