Exports Show Huge Growth in July 2019

September 12, 2019 Off By Web Desk

Trade figures released by Pakistan Bureau of Statistics (PBS) show that exports have increased for both month-on-month and year-on-year basis.

Pakistan’s exports during July 2019 witnessed a growth of 15.65% compared to July 2018, increasing from $1.63 billion to $1.90 billion.

During the period the country’s imports registered a negative growth of 16.40%, dipping down to $4.01 billion in July 2019 from $4.80 billion in July 2018.

The overall trade deficit witnessed a decline of 33% as it went down to $2.12 billion in July 2019 as compared with $3.17 billion in July 2018.

Monthly Comparison

Comparing the figures on a monthly basis, exports saw an increase of 10.31%, getting to $1.89 billion in July 2019 from $1.71 billion in June 2019.

Imports saw a decline of 7.91% during the period under view, going down to $4.01 billion as compared to $4.36 billion.

Fiscal Year 2019

Pakistan’s exports during FY 2018-19 amounted to $22.979 billion compared to $23.212 billion in FY2017-18. PBS says that imports during the period dropped by 9.9 percent from $60.795 billion in 2018 to $54.799 billion in 2019.

The data shows that Pakistan’s trade deficit declined by 15 percent from $37.583 billion in the fiscal year 2018 to $31.820 billion in 2019. Pakistan’s imports in June 2019 also registered a decline of 23 percent from $5.65 billion to $4.36 billion.

Source: Pro Pakistani