Trade deficit shrinks 28 per cent in seven months
KARACHI: The incumbent government’s efforts to cut down on deficits plaguing the national economy seems to be bearing fruit as the country’s trade deficit recorded a 28.40 per cent decrease during the first seven months of current fiscal year.
According to figures released today, exports rose by 2.14 per cent to $13.498 billion during the period from July-January 2019-20 as compared to exports worth $13.216 billion during last year’s corresponding year.
On the other hand, imports shrank 15.95 per cent to $27.249 billion in last seven months from $32.420 billion of last year.
The figures show trade deficit recorded a 15.30 per cent drop on a year-on-year basis in January 2020.
Exports reduced by 3.17 per cent to $1.970 billion as compared to exports of $2.035 billion in January last year while imports by 10 per cent to $4.037 billion as against the imports of $4.467 billion of the same month last year.