Pakistan's exports increase to $30 bln in FY 2023-24

ISLAMABAD: The exports from the country witnessed an increase of 10.54 percent during the fiscal year 2023-24 as compared to the corresponding period of last year 2022-23, the Pakistan Bureau of Statistics (PBS) reported.

The exports during July-June (2023-24) were recorded at $30.645 billion against the exports of $27.724 billion, according to latest PBS data.

On the other hand, imports into the country declined by 0.84 percent to $54.734 billion this year against the imports of $55.198 billion last year.

Based on the figures, the trade deficit during the current fiscal year under review was recorded at $24.089 billion against the deficit of $27.474 billion last year, showing a decline of 12.32 percent.

Meanwhile, on a year-on-year basis, the exports from the country increased by 7.34 percent in June 2024 compared to the exports of the same month of last year. The exports during the month were recorded at $2.529 billion as against the exports of $2.356 billion in June 2023.

On the other hand, the imports during June 2024 were recorded at $4.919 billion compared to the imports of $4.189 billion in June 2023, showing an increase of 17.43 percent, according to the data.

On a month-on-month basis, the exports from the country decreased by 10.92 percent when compared to the exports of $2.839 billion during May 2024.

The imports into the witnessed a nominal increase of 0.08 percent when compared to the imports of $4.915 billion in May 2024, PBS reported.