ISLAMABAD: Trade deficit of Pakistan seen a downside trend and it fell by 30 per cent to $11.64 billion in the first half of fiscal year 2019-20.
This was stated by Abdul Razak Dawood, Adviser to PM on Commerce.
It is pertinent to note that this downward trend in trade deficit was because of a decline in imports and increasing exports of the country, according to the statistics.
The export volume reached $11.54 billion recording an increase of 3.21 per cent from July 2019 to December 2019.
During this period, the exports of rice increased by 56 per cent, meat by 52% and vegetables by 41 per cent.
The export of seafood recorded an increase of 23 percent, while silk, synthetic textile, football and leather exports grew by 13 per cent each.
Imports of the country dropped by 17 per cent to $23.18 billion. It resulted in shrinking trade deficit to $11.64 billion.
However, the imports of cellular phones increased by 69 per cent, electrical appliances by 48 per cent and petroleum products and gas by 34 per cent.
Imports from India decreased by 64 per cent over the past 6 months, according to the stats.
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