The latest report from the Institute of Statistics reveals encouraging trends in Pakistan's trade balance, indicating a notable reduction in the domestic trade deficit over the past eight months of the current financial year.
According to the report, imports experienced a significant decline by 11.87%, amounting to $35.22 billion, during the eight-month period. Conversely, exports surged by 9% to reach $20.35 billion during the same duration. This substantial increase in exports has contributed positively to narrowing the trade deficit.
In February alone, imports dropped by 10% to $4.28 billion compared to January, while exports saw a slight dip of 8% to $2.57 billion during the same period. Notably, the trade deficit in February decreased by 13.5% to $1.71 billion compared to the previous month.
The cumulative trade deficit for the eight-month period stood at $14.87 billion, reflecting a remarkable 30% reduction in the trade deficit. These figures underscore a positive trajectory in Pakistan's trade balance, indicating improved economic stability and resilience in the face of global challenges.
