ISLAMABAD-The country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 25.68 per cent as compared to the corresponding period of last year.

During the period under review country’s exports registered about 3.92 per cent decrease, whereas imports witnessed sharp decline of 16.50 per cent, according the foreign trade statistics of the Pakistan Bureau of Statistics (PBS).

During the period from July-March (2019-2020), the exports witnessed decrease of 3.92 per cent and reached to $18.408 billion against the exports of $19.160 billion of the same period of last year, it added.

Meanwhile, country’s imports witnessed significant decrease of 16.50 per cent and went down from $45.393 billion in first three quarters of last financial year to $37.905 billion of same period of current financial year, it said.

Based on the figures, the trade deficit during the period under review was recorded at $19.497 billion against the deficit of $26.233 billion during last year, showing decline of 25.68 percent.

On year-on-year basis, the exports from the country decreased by 54.19 per cent during April 2020 as against the exports same month of last year. The exports during April 2020 were recorded at $0.957 billion against the exports of $2.089 billion in April 2019. The imports also witnessed sharp decline of 34.49 per cent during the month as these declined from $4.714 billion in April 2019 to $3.088 billion in April 2020.

On month-on-month basis, the exports from the country decreased by 47.24 percent in April 2020 when compared to the exports of $1.814 billion in March 2020. Likewise, the imports into the country declined by 6.88 per cent in April 2020 when compared to the imports of $3.316 billion in March.

Whereas Pakistan earned $526.710 million by providing different transport services in various countries during the first eight months of current financial year (2019-20) as compared to the corresponding period of last year. This shows decrease of 6.48 percent as compared to $563.210 million earned through provision of services during the corresponding period of fiscal year (2018-19), Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the exports of air transport witnessed nominal decrease of 3.54 percent by going down from $483.530 million last year to $466.390 million during July-February (2019-20).

Among the air transport services, the exports of passenger services however increased by 13.33 percent, from $271.790 million to $308.020 million, whereas the exports of freight services also grew by 21.75 percent, from $12.320 million to $15 million, in addition the export of other air transport services decreased by 28.11 percent from $199.420 million to $143.370 million.

The exports of sea transport services declined by 39.54 percent, by going down from $46.050 million last year to $27.840 million this year.

Among the sea transport services, the exports of freight services witnessed an increase of 3.03 percent from $13.550 million last year to $13.960 million whereas the exports of other sea transport services decreased by 57.29 percent from $32.500 million to $13.880 million this year, the PBS data revealed.

Meanwhile, the exports of road transport services during the period under review witnessed a decline of 15.63 percent by going down from $31.340 million to $26.440 million during this year, it added.

Among the road transport services, the exports of freight services decreased by 2.54 percent, from $27.130 million to $26.440 million during current year, while the export of postal and courier services witnessed an increase of 163.76 percent, from $2.290 million to $6.040 million, the data revealed.