Pakistan Trade Deficit Decline 21% in August as Exports Jump 16%
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
In August 2024, the country’s trade deficit decreased by 20.5 percent to $1.675 billion as exports were recorded at $2.743 billion, according to data released by the Pakistan Bureau of Statistics.
Imports for the same month were $4.418 billion, compared to $4.474 billion in August 2023. This reflects a 15.9% increase in exports and a 1.3% decrease in imports compared to the same month last year.
Month-on-month, the trade deficit narrowed by 12.0% in August 2024, with exports growing by 18.9% and imports rising by 4.9%.
For August 2024, exports were $2.743 billion, up from $2.307 billion in July 2024, while imports were $4.211 billion, slightly higher than the $4.211 billion recorded in July 2024.
The trade deficit contracted by 4.2% in the first two months of the current financial year (2023-24) compared to the same period last year.
From July to August 2024-25, local exports grew by 14.0%, reaching $5.1 billion compared to $4.4 billion in the same period last year, according to the Pakistan Bureau of Statistics.
Meanwhile, imports increased by 5.7%, totaling $8.6 billion, up from $8.1 billion in the same period last year.
Reference Link:- https://augaf.com/pakistan-trade-deficit-decline-21-in-august-as-exports-jump-16/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
