Trade deficit contracts by 35.5 percent in six months

Pakistan has witnessed a 35.5 percent or $5.62 billion reduction in trade deficit during the first six months (July-December) of the fiscal year 2023-24, reported 24NewsHD TV channel on Wednesday.

The trade deficit stood at $15.84 billion during the period from July 1, 2023 to December 20, 2023, down from $10.21 billion recorded during the same period in the previous fiscal year 2022-23.

Country’s exports went up by 5.3 percent during the period under review and were recorded at over $14 billion as compared to $13.38 billion in the same period last year. On the other hand, imports went down by 16.8 percent.

Reporter: Waqar Azeem