ISLAMABAD - Countrys trade deficit remained $4.5 billion in the first four months (July-October) of the current fiscal year 2009-10; registering a decline of 41 percent as compared to the same period of the last financial year 2008-09, sources informed TheNation on Wednesday. According to the figures, trade deficit recorded in July-October period was $4.50 billion as against of $7.52 billion of the same period last financial year 2008-09 registering negative growth of 41 percent. The countrys exports have shown a major decline of 9.7 percent in the first four months of ongoing fiscal year 2009-10 as compared to the same period of the last financial year. The exports managed to reach $6 billion in July-October period of the current fiscal year compared to $6.76 billion against the said period of last year. Imports have also shown a decline of 26 percent and totalled at $10.50 billion in July-October against $14.285 billion during same period last fiscal year. However, the final figures of imports and exports are yet to be released by Federal Bureau of Statistics on its website. With the start of current fiscal year, exports showed negative growth, which is a matter of concern for the government. Meanwhile, business community believes that governments decision of two holydays a week for industries would further create problems for achieving annual export target. The Ministry of Commerce had already missed the export target set for the last fiscal year and even revised target was not achieved at the end of 2008-09. The exports were projected to be at $22.9 billion for 2008-09, but due to recession around the globe and issues confronting the country like power, gas shortages and other issues, the export target was projected to be around $19.5 billion. However, the revised export target was missed by 1.72 billion in 2008-09 and achieved $17.78 billion exports. The Ministry of Commerce in the Strategic Trade Policy Framework 2009-12 has set export growth by 6 per cent for the ongoing fiscal year. If the said growth rate is achieved in 2008-09 it would set the target at $18.86 billion for ongoing fiscal year. A Ministry of Commerce official, when contacted for comments on trade deficit, said it was a positive sign for the economy that imports were declining that would reduce trade deficit and help save the foreign reserves.