Trade Deficit declined by 24.8% to $1.95Bn in Jan

According to the PBS, the country’s trade deficit shrunk by 24.8% to $1.95 billion in January 2024 from $2.59 billion in the same period of the last year.

Exports improved significantly by 24.72% to $2.79 billion in January 2023 from $2.24 billion in the same month of the previous year. On the other hand, imports reduced marginally by 1.84% to $4.74 billion in January 2024 from $4.83 billion in the same month last year.

However, on a month-on-month basis, trade deficit increased by 6.5%, as compared to $1.83 billion in December 2023.

The data showed exports decreased while imports posted a marginal improvement on a monthly basis.

Exports declined by 1.13% when compared monthly to $2.82 billion in the preceding month of December. Meanwhile, imports inched up by 1.87% to $4.74 billion from $4.65 billion last month.

Earlier, Caretaker Minister of Commerce Dr Gohar Ejaz on Thursday had celebrated the year-on-year increase in exports during January.

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