ISLAMABAD - The countrys trade deficit remained $9.423 billion in the first eight months (July-Feb) of the current fiscal year and registered a decline of 19.45 percent as compared to the same period of the last financial year, Federal Bureau of Statistics reported on Wednesday. According to the figures, Pakistans trade imbalance was registered at $9.423 billion in July-Feb period as against of $11.698 billion in the same period of 2008-09. The countrys exports have shown an increase of 2.71 percent in the first eight months of ongoing fiscal year 2009-10, as compared to the same period of the last financial year. The exports managed to reach at $12.397b in July-February period of the current fiscal year as compared to the exports of $12.070b in the same period of the last fiscal year 2008-09, thus projecting an increase of 2.71pc. On the other hand, the countrys imports have shown a decline of 8.20pc and totalled at $21.820b in July-February period of the current fiscal year as against the imports of $23.768b during the same period of the last financial year. Trade analysts said that economic downturn in the world was one reason for lesser exports, but it was something that could be tackled through more value addition and exploring new markets. They said the trade deficit narrowed because of declining imports due to lesser export orders as imports include raw materials for textiles and garments. If we compare the statistics of February with those of the month of January 2010, it becomes clear that only in the month of Feb 2010, the country exported goods worth $1.540 billion as compared to the exports of $1.7b in January 2010, showing a decline of 9.42 percent, the official figures said. Meanwhile, imports remained $2.505 billion in February 2010 as against imports of $3.320 billion in January indicating a decrease of 24.58pc. The trade deficit was at $965 million in Feb 2010 as against imbalance of $1.621 billion in January 2010 indicating a decrease of 40.48 percent. On the other hand, exports registered an increase of 23.24 percent in February 2010 with total exports of $1.540b as against exports of $1.250b in Feb 2009. Imports of the country witnessed an increase of 17 percent in February 2009 with total imports stood at $2.504 billion as against the imports of $2.122b in Feb 2009. The trade imbalance in Feb 2010 enhanced by 10.48pc with total deficit stood at $965m as against the deficit of $873m in Feb 2009.