ISLAMABAD: Pakistan booked a trade deficit of $23.7 billion during the first 10 months of this fiscal year as steeper reduction in imports was offset by an unwarranted dip in exports.
The Pakistan Bureau of Statistics (PBS) reported on Tuesday that the shortfall between imports and exports was down 39.6%, year-on-year. The decline was due to various economic challenges that Pakistan is currently facing.
It marks a significant improvement compared to the same period in the previous fiscal year, which saw a deficit of $39.3 billion.
The data collecting agency showed that exports fell by 26.7% in April, marking a worrisome trend for the country’s economy, as exports play a crucial role in supporting its finances.
