Islamabad
Exports from Pakistan saw an increase of 8.93 percent during the first 9 months of the current fiscal year (2023-24) compared to the corresponding period of the previous year, as reported by the Pakistan Bureau of Statistics (PBS) on Monday (April 1).
According to the latest PBS data, exports reached $22.914 billion during July-March (2023-24), up from $21.036 billion in July-March (2022-23), indicating a growth of 8.93 per cent.
Conversely, imports into the country decreased by 8.65 per cent to $39.944 billion this year compared to $43.724 billion last year. These figures translate to a trade deficit of $17.030 billion during the first 9 months of the current fiscal year, marking a significant decline of 24.94 per cent from the deficit of $22.688 billion last year.
In March 2024, year-on-year basis, exports increased by 7.99 per cent compared to the same month of the previous year, reaching $2.555 billion, up from $2.366 billion in March 2023.
On the other hand, imports during March 2024 were recorded at $4.726 billion, reflecting a 25.86 per cent increase from $3.755 billion in March 2023. Month-on-month, exports decreased by 1.08 per cent in March 2024 compared to February 2024’s exports of $2.583 billion. Meanwhile, imports rose by 9.25 per cent compared to February 2024’s imports of $4.326 billion, according to PBS data.