ISLAMABAD - Pakistan’s trade deficit shrank to $4.666 billion during the first quarter (July-September) of the ongoing financial year (2012-2013) as compared to $5.183 billion in the same period of the preceding year (2011-2012).
According to the latest figures released by Pakistan Bureau of Statistics (PBS) on Thursday, the country’s trade imbalance reduced by almost 10 per cent in one-year period, as it was recorded at $4.666 billion during July-September 2012-2013 period as compared to $5.183 billion of July-September 2011-2012.
The PBS figures showed that country’s exports had recorded growth of 4.26 per cent during the first quarter of the current fiscal year, as these were recorded at $6.187 billion in the period under review against $5.934 billion of the same period last year. On the other hand, the country’s imports decreased by 2.37 per cent in one year, as these were recorded at $10.853 billion in the first three months of the ongoing financial year against $11.117 billion of the same period last year.
Meanwhile, according to the PBS figures, the overall exports growth went up by 16.12 per cent in September 2012 if compared with the exports of August 2012. The country exported goods worth of $2.219 billion in September 2012 against $1.911 billion of the August 2012. However, the imports reduced by 4.86 per cent in September 2012 against August 2012, as the country imported goods worth of $3.506 billion during the last month as compared to $3.685 billion of August 2012.
Therefore, the country’s trade imbalance decreased by 27.45 per cent in September 2012 against the August 2012. The country’s trade deficit was recoded at $1.287 billion in September 2012 against $1.774 billion of the August 2012.
According to the PBS figures, exports stood at $2.219 billion in September 2012, which were $1.832 billion in September 2011 and this showed an increase of 21.12 per cent in exports in one year. Imports decreased by 3.20 per cent and totalled to $3.506 billion in September 2012 against $3.622 billion of September 2011. The trade deficit for September 2012 against September 2011 decreased by 28.47 per cent and was recorded at $1.287 billion.