Pakistan Bureau of Statistics (PBS) reports that in the first month (July) of the current fiscal year 2023-24 (FY24), exports fell by 13% on a month-over-month (MoM) basis, from $2.356 billion in June 2023 to $2.057 billion in July.
The trade deficit for the country shrank by 13.35 percent from June to July, coming in at $1.607 billion instead of $1.863 billion. Imports in July 2023 were 13.15 percent lower than in June 2023, totaling $3.664 billion versus $4.219 billion.
Pakistan’s export decrease
July 2023 exports were $2.057 billion, down from July 2022’s $2.250 billion. This represents a decrease of 8.57 percent year over year.
There was a negative rise of 26.44 percent in imports from July 2022 to July 2023, with a decline to $3.664 billion. Comparing July 2023 to July 2022, the trade deficit shrank from $2.731 billion to $1.607 billion, a decrease of 41.16 percent.
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