According to the data shared by the Pakistan Bureau of Statistics (PBS), the trade deficit of the country has decreased by 22.64 percent in the month of July—the first month of the current fiscal year.
The official figures claimed that the exports of the country have been increased by 6.04 percent to two billion dollars in the month as compared to the country’s exports worth 1.88 billion US dollars reported during the month of the last fiscal year.
On the other hand, the imports of the country registered a 1.97 percent decline to clock in at 3.60 billion US dollars in the month of July as compared to 3.71 billion US dollars registered in last year’s corresponding period.
According to the official figures, the trade deficit of the country decreased by 22.64 percent to 1.64 billion US dollars as compared to 1.82 billion US dollars registered in the month of July of the last year.
On August 8, a US-based business and financial services company Moody’s confirmed the B3 credit rating of Pakistan with a stable outlook as part of the review for downgrade. As per the statement issued by the company, the economy of Pakistan is improving and the biggest challenged being faced by the country, the current account deficit is also decreasing.