Trade deficit reduced by 16.5 percent in July 2018 – Research Snipers

Trade deficit reduced by 16.5 percent in July 2018

Pakistan’s trade deficit has been decreased to $3.192 billion in July after a long time, Pakistan has recorded a decrease of 16.5 percent from $3.807 billion which was reported earlier month in June to $3.192 reported in July according to Pakistan Bureau of Statistics (PBS).

The trade deficit is still on the rise year-on-year basis, the total increase in the trade deficit was recorded at 0.31 percent.

Despite declining exports the trade deficit shrank, exports have declined by 12.77 percent on the month-on-month basis and recorded at $1.646 billion in July 2018, however, Pakistan exports were recorded at $1.887 in the previous month of June.

But overall exports on year-on-year basis have seen an improvement with an increase of 1.17 percent as exports for July 2017 were recorded at $1.627 billion.

The reduction in widening trade deficit came after imports decline; a 15 percent decline in imports was greater than the decline in exports. The country has imported $4.838 billion worth of imported goods in July 2018 as compared to $5.694 billion in the previous month.

However, overall imports on year-on-year basis have also increased by a marginal 0.6 percent; Pakistan’s total import bill in July 2017 was recorded at $4.809 billion.