ISLAMABAD: Pakistan’s trade deficit widened by 23.59 percent month-on-month in November, climbing to $2.87 billion compared to $2.32 billion in October as exports declined, ARY News reported quoting Pakistan Bureau of Statistics (PBS).
According to data shared by Pakistan Bureau of Statistics (PBS), Pakistan’s trade deficit widened by 29 percent to $2.87 billion in November as the government failed to increase exports.
The PBS reported that the country’s exports stood at $2.3bn compared to imports of $5.24bn. On a month-on-month basis, exports during November 2022 decreased by 0.63pc while imports jumped by 11.34pc.
Read More: Pakistan’s exports drop by 3.07pc in October: PBS
However, Pakistan’s trade deficit decreased by 42.46pc year-on-year. In November 2021, the trade deficit stood at $4.99 billion.
On a year-on-year basis, exports decreased by 18.34pc and were recorded at $2.3bn in November 2022 as compared to $2.9bn in November 2021. The imports decreased to $5.24bn in November 2022 from $7.89bn in November 2021, showing negative growth of 33.60 percent.
Read More: Trade deficit rose by 28.89pc in August 2022, shares PBS data
Meanwhile, the exports during July-November of the current fiscal year (FY23) were recorded at $11.93bn against the exports of $12.36bn in July-November of FY22, showing a decline of 3.48 pc.
Moreover, the imports during the five-month period decreased by 20.15 percent to $26.338bn as compared to $32.93bn.
