The Pakistan Bureau of Statistics on Saturday released a report on the state of country’s exports.
According to the report, Pakistan’s exports witnessed an 11 percent increase in October 2024 compared to the volume of exports in October 2023. This 11 percent increase in exports means $2.98 billion increase in foreign exchange reserves. Compared to September, Pakistan’s exports grew by five percent in October this year.
Compared to October 2023, Pakistan’s imports also increased by six percent ($4.60 billion) in October 2024. However, the imports bill decreased by one percent in October compared to September this year.
Compared to October 2023, Pakistan’s trade deficit decreased by 24 percent and it now stands at $1.60 billion. The trade deficit decreased by 11.70 percent in October compared to September this year.
Compared to October 2023, Pakistan’s trade deficit decreased by 24 percent and it now stands at $1.60 billion. The trade deficit decreased by 11.70 percent in October compared to September this year.
The Pakistan Bureau of Statistics said that now the trade deficit stands at $7.8 billion after a 4.12 percent decrease. It said that last year trade deficit stood at $7.39 billion in the first four months.
In the first four months of this year, Pakistan’s exports increased by 13.55 percent to $10.89 billion. In the first four months of this fiscal year, Pakistan’s import bill increased by 5.86 to $17.97 billion.
On the other hand, the Pakistani rupee made slight gains against the US dollar this week. The Pakistani rupee appreciated against US dollar by 9 paisa. In one week, dollar rate decreases from Rs277.74 to Rs277.67 in inter-bank trade.