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Trade Deficit reduces by 16.58pc during July 14

ISLAMABAD: Reduction in the imports has contracted the trade deficit of the country by 16.58 per cent during July 2014 as compare to July 2013, ARY News reported.

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The overall trade deficit during the first month of ongoing fiscal year (2014-15) was recorded at $1.434 billion compared to the deficit of $1.719 to the same month of last year, showing a deficit of 16.58 percent, as stated by Pakistan Bureau of Statistics (PBS).

The imports into the country were recorded at $3.364 billion in July 2014 compared to the imports of $3.814 billion in July 2013, the PBS data revealed.

Exports from the country, however, also decreased by 7.88 percent by going down from $2.095 billion in July 2013 to $1.930 billion in July 2014.

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