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Trade deficit shrinks 4.89 percent in 8 months of FY 2013-14

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    Bilal. SENIOR MEMBER

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    Trade deficit shrinks 4.89 percent in 8 months of FY 2013-14

    Tuesday, 11 March 2014 18:30 Posted by Imaduddin 114
    ISLAMABAD: Pakistan's trade deficit narrowed by 4.89 percent during first eight months of current fiscal year as exports expanded by 6.2 percent while imports were up by 1.17 percent as compared to the same period of last year.
    On year-on-year basis, the trade deficit contracted by 7.43 percent in February 2014 when compared to the deficit of the same month of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).
    According to break figures, the exports from the country during July- February (2013-14) were recorded at $16.866 billion against the exports of $15.882 billion recorded during July-February 2012-13.
    On the other hand, the imports into the country during the period under review were recorded at $29.408 billion against the imports of $29.069 billion during the corresponding period of last year.
    Based on the figures, the trade deficit during July-February (2013-14) was recorded at $12.542 billion against the deficit of $13.187 billion in July-February (2012-13), showing negative growth of 4.89 percent.
    Meanwhile, on year-on-year basis, the exports from the country in February 2014 increased by 18.09 percent to $2.167 billion when compared to the exports of $1.835 billion in February 2013.
    On the other hand, the imports into the country also increased by 6.41 percent by going up from $3.383 billion in February 2013 to $3.6 billion in February 2014, the PBS data revealed.
    Based on the figures, the trade deficit in February 2014 was recorded at $1.433 billion against the deficit of $1.548 billion in February 2013, showing a negative growth of 7.43 percent.
    On the other hand, exports in February 2014 increased by 5.14 percent when compared to the exports of $2.061 billion in January 2013.
    The imports into the country decreased by 12.98 percent in February 2014 when compared to the imports of $4.137 billion in January 2013, according to the data.
    Based on the figures, the deficit in February 2014 stood at $1.433 billion against that of $2.076 billion in January 2013, showing a negative growth of 30.97 percent.
    Copyright APP (Associated Press of Pakistan), 2014