ISLAMABAD: During the first two months of this fiscal year, domestic exports increased by 14 percent to reach $5.1 billion, which will help reduce the trade deficit to $3.6 billion.
According to data released by the Bureau of Statistics on Tuesday, Pakistan exported $5.1 billion during August and July, which was only $620 million during the same period last fiscal year.
On the other hand, an increase of 5.7 percent was seen in imports, which remained at 8.6 billion dollars, it was 463 million dollars last year, as a result, the trade deficit decreased by 4.2 sectors to 3.6 billion dollars.
According to the Department of Statistics, the trade deficit narrowed by a quarter on an annual basis, and the trade deficit narrowed to $1.7 billion in August, compared to $2.74 billion last month, with exports up 16 percent.
Imports stood at $4.4 billion in August, and the trade deficit narrowed by $1.7 billion on a month-on-month basis, mainly due to a 19 percent increase in exports and a 5 percent increase in imports.
