Pakistan's exports rise by 11.83% in July 2024

Pakistan’s exports witnessed an increase of 11.83 per cent during the first month of fiscal year 2024-25 as compared to the corresponding month of last year, the Pakistan Bureau of Statistics (PBS) reported Friday.

The exports during July 2024 were recorded at $2.308 billion against the exports of $2.064 billion in July 2023, according to latest PBS data.

On the other hand, imports into the country also increased by 15.30 percent to $4.256 billion during the month under review as against the imports of $3.691billion last July.

Based on the figures, the trade deficit during the month under review was recorded at $1.948 billion against the deficit of $1.627 billion last year, showing an increase of 19.71 percent.

Meanwhile, on a month-on-month basis, the exports from the country decreased by 9.77 percent when compared to the exports of $2.558 billion during June 2024.

Read more: Pakistan’s services exports increase to $7.129 bln in 11 months

The imports also witnessed decrease of 14.27 percent when compared to the imports of $4.964 billion in June 2024, PBS reported.

On the other hand, the export of services during the fiscal year 2023-24 increased by2.7 percent by going up to $7.806 billion from $7.595 billion last year.

The services import also increased from $8.638 billion last year to $10.119 billion this year, showing growth of 17.14 percent.

Based on the figures, the services trade deficit was recorded at $2.313 billion in July-June (2023-24) against the deficit of $1.043 billion in July-June (2022-23), showing an increase of 121.76 percent.