According to a study released by the Pakistan Bureau of Statistics (PBS) on Friday, there was an 11.83% rise in Pakistan’s exports in the first month of the fiscal year 2024–25 by comparison with the same month the previous year.
The most recent statistics from PBS shows that in July 2024, exports totalled $2.308 billion, compared to $2.064 billion in July 2023.
However, compared to last July’s imports of $3.691 billion, imports into the nation climbed by 15.30 percent to $4.256 billion during the month.
Estimates for the trade deficit for the month under review reflect a 19.71 percent increase to $1.948 billion from the $1.627 billion deficit in the previous year.
Comparing June 2024’s exports of $2.558 billion to June 2024’s exports, the country’s monthly exports fell by 9.77 percent.
As compared to the $4.964 billion in imports in June 2024, the imports likewise saw a fall of 14.27%, according to PBS.
However, for the fiscal year 2023–2024, the value of services exported rose by 2.7%, from $7.595 billion to $7.806 billion.
Additionally, there was a 17.14% surge in services imports this year, rising from $8.638 billion to $10.119 billion.
The data indicates that the trade deficit for services increased by 121.76 percent from $1.043 billion in July–June (2022–2023) to $2.313 billion in July–June (2023–24).
