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Home Economy

Pakistan saw exports decline for the consecutive fourth month in December

Asad Hassan by Asad Hassan
January 4, 2023
in Economy
Reading Time: 2 mins read
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Pakistan saw exports decline for the consecutive fourth month in December

According to official data released by the Pakistan Bureau of Statistics (PBS) on Tuesday, Pakistan’s exports fell for the fourth consecutive month in December 2022 to $2.304 billion, a 3.64 percent decrease from the $2.391 billion in exports in November 2022.

According to the report, imports fell by 0.41 percent in December 2022 compared to imports of $5.182 billion in November 2022.

The month-over-month change in the trade deficit was 2.36 percent, from $2.791 billion in November 2022 to $2.857 billion in December 2022.

The nation’s trade deficit decreased from $25.438 billion in the same period last year to $17.133 billion in the first half of the current fiscal year, a reduction of 32.65%.

According to the trade data, the exports from July to December 2022–23 totaled $14.249 billion compared to $15.125 billion in July to December 2021–22, a fall of 5.79 percent.

From $40.563 billion in the previous fiscal year to $31.382 billion in the period under review, imports declined by 22.63 percent.

The exports decreased by 16.64 percent year over year and totaled $2.304 billion in December 2022 compared to $2.764 billion in December 2021.

Additionally, imports fell from $7.580 billion in December 2021 to $5.161 billion in December 2022, representing a negative growth rate of 31.91 percent.

From $4.816 billion in December 2021 to $2.857 billion in December 2022, the trade deficit decreased by 40.68 percent on an annual basis.

To read our blog on “In the first five months of FY23, IT exports grow by 3%,” click here.

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Asad Hassan

Asad Hassan

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