In August 2024, Pakistan’s trade deficit decreased by more than 20 percent, reaching an 11-month low of $1.675 billion.
Pakistan’s trade deficit in August 2024 narrowed by 20.54 percent year on year (YoY) to $1.675 billion as compared to a deficit of $2.108 billion recorded in the same month last year, according to data released by PBS. Exports registered 15.93 percent growth and stood at $2.743 billion in August when compared to $2.366 billion during the same month of last fiscal year.
Imports registered a 1.25 percent decline and stood at $4.418 billion in August when compared to $4.474 billion during the same month of last fiscal year.
The trade data released by the Pakistan Bureau of Statistics (PBS) showed that the trade deficit narrowed by 4.20 percent during the first two months of the current fiscal year and stood at $3.578 billion compared to $3.735 billion during the same period of last fiscal year.
The country’s imports increased by 5.67 percent and stood at $8.628 billion during the first two months of the current fiscal year compared to $8.165 billion during the same period of the last fiscal year.
On a monthly basis, the trade deficit has narrowed by 12.03 percent and stood at $1.675 billion in August compared to a deficit of $1.904 billion recorded in July 2024. Exports in August rose by 18.90 percent to $2.743 billion compared to $2.307 billion in July 2024. Imports increased by 4.92 percent in August 2024 and stood at $4.418 billion compared to $4.211 billion in July 2024.
