Restrictive measures for imports reduce trade deficit

ISLAMABAD: Pakistan’s imports registered a 19.21% decrease in the first four months of the current fiscal year, amounting to $15.32 billion as compared to $18.96 billion over the corresponding period last year.

invest with imarat

Islamabad’s emerging city centre

Learn More

According to data provided by the Pakistan Bureau of Statistics (PBS), the decline in value of imported goods in October is 15.14% to $4.07bn against $4.8bn during the same time period in the previous fiscal year.

On the other hand, exports experienced growth by 3.81% to $7.54bn in July-October, against $7.27bn over the corresponding period last year.

The slight escalation in exports and significant drop in imports has led the country’s trade deficit to fall by 34% in the first four months of current fiscal year.

The data showed trade deficit in the first four months ebbed to $7.77 billion from $11.69bn over the corresponding period last year, reflecting a dip of $4.19bn or 33.52%.

The trade deficit has been on a steady decline in the ongoing financial year primarily due to the government’s corrective measures to slow down imports of non-essential commodities to help lessen pressures on foreign exchange reserves and slump in overall demand.

For more news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Exploring Kalabagh: The Historic City in Mianwali District

Kalabagh, a small yet historically significant town in Pakistan’s Punjab province, is located within the…

21 hours ago

Nazimabad Number 2: A Well-Known Residential Area in Karachi

Nazimabad Number 2 is a well-known neighbourhood in Karachi, Pakistan, renowned for its vibrant community,…

2 days ago

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

3 days ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

4 days ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

5 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago