Pakistan’s trade deficit narrowed by 2.48 percent during Fiscal Year 2013-14 as exports expanded by 2.75 percent while imports witnessed slight increase of 0.36 percent, as compared to the same period in FY 2013.
According to break up figures, the exports from the country during July 2013 to June 2014 were recorded at $25.132 billion against exports of $24.460 billion recorded during July 2012 to June 2013.
On the other hand, the imports into the country during the period under review were recorded at $45.113 billion against imports of $44.950 billion during the corresponding period of last year.
Based on the figures, the trade deficit during July 2013 to June 2014 was recorded at $19.981 billion against the deficit of $20.490 billion in July 2012 to June 2013, showing negative growth of 2.48 percent.
Meanwhile, on year to year basis, exports from the country in June 2014 decreased by 6.76 percent to $2.027 billion when compared to the exports of $2.174 billion in June 2013.
According to Pakistan Bureau of Statistics (PBS) data, the imports in the country witnessed an increase of 10.1 percent by going up from $3.940 billion in June 2013 to $4.338 billion in June 2014.
The deficit in June 2014 was recorded at $2.311 billion compared to deficit of $1.766 billion in June 2013, showing a growth of 30.86 percent in trade deficit.
According to reports, on monthly basis, exports in June 2014 decreased by 4.25 percent when compared to the exports of $2.117 billion in May 2014.
The imports into the country witnessed an increase of 18.04 percent in June 2014 when compared to the imports of $3.675 billion in May 2014, according to the data.
Based on the figures, the deficit in June 2014 stood at $2.311 billion against the deficit of $1.558 billion in May 2014, showing growth of 48.33 percent.
