Trade deficit falls 6.8pc to $11.62bn: The News

By Aftab Maken

ISLAMABAD: The trade deficit for the first eight months of the current fiscal year stood at $11.62 billion, registering a decrease of around 6.86 per cent compared to $12.47 billion in the same period last fiscal, the Federal Bureau of Statistics (FBS) said on Monday.

It is interesting to note that the balance of trade has for the first time registered a decline and also imports went into the negative zone, helping the policy-makers to keep current account deficit (CAD) well below 6 per cent of gross domestic product (GDP).

Decline in the balance of trade and imports clearly reveals that the economy is showing signs of slowness and it will continue to do so in the coming months, an analyst said. During July-February 2008-09, Pakistan’s exports totalled $12.16 billion and imports $23.77 billion against $11.66 billion and $24.14 billion, respectively recorded during the same period last year. Imports were 1.49 percent less than the same period last fiscal, while exports rose only by 4.25 percent, said FBS data.

For more on this article, please click on the following link: Trade deficit falls 6.8pc to $11.62bn: The News