Pakistan’s exports surge by 3.21% to $11.54bn
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KARACHI: Pakistan’s trade deficit declined by 30 per cent to $11.64 billion in the first half of the current fiscal year 2019-20, according to Federal Bureau of Statistic (FBS) shared by Adviser to Prime Minister on Commerce Abdul Razak Dawood on Sunday.
He said this decline is only because of increasing exports and declining imports of the country, according to the FBS data.
The export volume touched $11.54 billion recording an increase of 3.21 per cent from July 2019 to December 2019.
During this period, the exports of rice increased by 56 per cent, meat by 52 per cent and vegetables by 41 per cent.
The export of seafood recorded an increase of 23 per cent, while silk, synthetic textile, football and leather exports grew by 13 per cent each.
Imports of the country dropped by 17 per cent to $23.18 billion. It resulted in shrinking trade deficit to $11.64 billion.
However, the imports of cellular phones increased by 69 per cent, electrical appliances by 48 per cent and petroleum products and gas by 34 per cent. Imports from India decreased by 64% over the past 6 months, the data said.
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