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Pakistan’s trade deficit falls by 30% to $11.64b

SAMAA | - Posted: Jan 5, 2020 | Last Updated: 1 month ago
SAMAA |
Posted: Jan 5, 2020 | Last Updated: 1 month ago
Pakistan’s trade deficit falls by 30% to $11.64b

FILE photo: Abdul Razak Dawood.

Trade deficit of Pakistan fell by 30% to $11.64 billion in the first half of fiscal year 2019-20, according to stats shared by Adviser to PM on Commerce Abdul Razak Dawood on Sunday.

This was because of a decline in imports and increasing exports of the country, according to the statistics.

The export volume reached $11.54 billion recording an increase of 3.21% from July 2019 to December 2019.

During this period, the exports of rice increased by 56%, meat by 52% and vegetables by 41%.

The export of seafood recorded an increase of 23%, while silk, synthetic textile, football and leather exports grew by 13% each.

Imports of the country dropped by 17% to $23.18 billion. It resulted in shrinking trade deficit to $11.64 billion.

However, the imports of cellular phones increased by 69%, electrical appliances by 48% and petroleum products and gas by 34%.

Imports from India decreased by 64% over the past 6 months, according to the stats.

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PM's adviser on commerce, Abdul Razak Dawood, trade deficit, imports, exports, economy, Pakistan
 
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