Pakistan’s Trade Deficit Swells to $1.948B in July 2024
The exports during July 2024 were recorded at $2.308 billion against the exports of $2.064 billion in July 2023, according to the latest PBS data.
On the other hand, imports into the country also increased by 15.30 percent to $4.256 billion during the month under review as against the import of $ 3.691 billion last July.
Based on the figures, the trade deficit during the month under review was recorded at $1.948 billion against the deficit of $1.627 billion last year, showing an increase of 19.71 percent.
Meanwhile, on a month-on-month basis, the exports from the country decreased by 9.77 percent when compared to the exports of $2.558 billion in June 2024.
Pakistan’s services exports increase to $7.129 bln in 11 months
The imports also witnessed a decrease of 14.27 percent when compared to the imports of $4.964 billion in June 2024, PBS reported.
On the other hand, the export of services during the fiscal year 2023-24 increased by 2.7 percent going up to $7.806 billion from $7.595 billion last year.
The services import also increased from $8.638 billion last year to $10.119 billion this year, showing growth of 17.14 percent.
Based on the figures, the services trade deficit was recorded at $2.313 billion in July-June (2023-24) against the deficit of $1.043 billion in July-June (2022-23), showing an increase of 121.76 percent.
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