Pakistan’s Trade Deficit Down Almost 19% in November 2024
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan’s trade deficit in November 2024 narrowed by 18.60 percent year-on-year (YoY) to $1.589 billion as compared to a deficit of $1.952 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).
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Exports registered 8.98 percent growth and stood at $2.804 billion in November 2024 when compared to $2.573 billion during the same month of last fiscal year.
Imports registered 2.92 percent decline and stood at $4.393 billion in November 2024 when compared to $4.525 billion during the same month of last fiscal year.
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Month-on-month basis
On monthly basis, trade deficit widened by 0.19 percent and stood at $1.589 billion in November 2024 compared to a deficit of $1.586 billion recorded in October 2024.
Exports in November 2024 declined by 5.97 percent to $2.804 billion compared to $2.982 billion in October 2024. Imports decreased by 3.83 percent in November 2024 and stood at $4.393 billion compared to $4.568 billion in October 2024.
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5-Month performance
The trade deficit narrowed by 7.39 percent during the first five months of the current fiscal year and stood at $8.651 billion compared to $9.341 billion during the same period of last fiscal year.
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The country’s exports increased by 12.57 percent during the first five months (July-November) of FY25 and stood at $13.691 billion compared to $12.162 billion during the same period of FY24.
The country’s imports increased by 3.90 percent and stood at $22.342 billion during the first five months of the current fiscal year compared to $21.503 billion during the same period of last fiscal year.
Reference Link:- https://propakistani.pk/2024/12/02/pakistans-trade-deficit-down-almost-19-in-november-2024/
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.…
