Trade deficit narrows by 2.48% as exports expand by 2.75%

ISLAMABAD: Pakistan’s trade deficit narrowed by 2.48 percent during the fiscal year 2013-14 as exports expanded by 2.75 percent while imports witnessing slight increase of 0.36 percent as compared to the same period of last year.
According to break up figures, the exports from the country  during July-June (2013-14) were recorded at $25.132 billion against  the exports of $24.460 billion recorded during July-June 2012-13. On the other hand, the imports into the country during the  period under review were recorded at $45.113 billion against the  imports of $44.950 billion during the corresponding period of  last year.
Based on the figures, the trade deficit during July-June  (2013-14) was recorded at $19.981 billion against the deficit of  $20.490 billion in July-June (2012-13), showing negative growth  of 2.48 percent.
Meanwhile, on year-on-year basis, the 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.
On the other hand, the imports into the country witnessed increase  of 10.10 percent by going up from $3.940 billion in June 2013 to $4.338 billion in June 2014, the PBS data revealed. The deficit in June 2014 was recorded at $2.311 billion compared to  deficit of $1.766 billion in June 2013, showing growth of 30.86 percent  in trade deficit.
On the other hand, on month-on-month 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 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. 

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