Trade deficit narrows by 12 percent, exports up 7.24 percent
Wednesday, February 13th, 2013 4:10:16 by Tahir Khan
Pakistan’s trade deficit has decreased by 12.05 percent during the first seven months of the current fiscal year following 7.24 percent increase in exports while imports witnessed negative growth of 2.44 percent, official statistics say.
The overall exports increased from $13.118 billion in July December 2011-12 to US$14.068 billion during July-December (2012-13), the data released by the Pakistan Bureau of Statistics (PBS) said Wednesday.
The imports also decreased from $26.327 billion last year to $25.685 billion during the current fiscal year, showing negative growth of 2.44 percent, the data revealed.
According to the data, the trade deficit during the fist seven months of current fiscal stood at $11.617 billion against the deficit of $13.209 billion last year, showing negative growth of 12.05 percent.
Meanwhile, exports during the month of January 2013 witnessed growth of 5.58 percent when compared to the same month of last year.
On year-on-year basis, the exports during January 2013 were recorded at $2.023 billion against the exports of $1.916 billion during January 2012 2011.
On the other hand, the imports into the country also witnessed increase of 3.12 percent to $3.763 billion in January 2013 against the imports of $3.649 billion during January 2012.
The trade deficit during January stood at $1.740 billion against the deficit of $1.733 billion during January 2012, showing slight growth of 0.40 percent.
On month on month basis, the exports as well as imports increased by 2.74 percent and 1.48 percent respectively in January 2013 as compared to December 2012 2011.
The Exports in December 2012 were recorded at $1.969 billion while the imports stood at $3.672 billion respectively, the data revealed.
Short URL: https://www.newspakistan.pk/?p=38213
Posted by Tahir Khan
on Feb 13 2013. Filed under Business, Latest News, National.
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