Merchandise exports up by 1.29pc in five months

ISLAMABAD: The country’s merchandise exports during the first five months of the current fiscal year increased by 1.29 per cent as compared to the exports of the corresponding period of last year.

The exports from the country during the period under review reached $9.12 billion against exports of $9.004 billion during the same period of previous year, according to latest data released by Pakistan Bureau of Statistics (PBS) on Tuesday.

Meanwhile, the imports into the country during the period under review decreased by 0.78 per cent to $23.633 billion against the imports of $23.818 billion in July-November 2017-18.

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The trade deficit during July-November (2018-19) shrank by 2.03 per cent to $14.513 billion against $14.814 billion recorded during the first five months of last fiscal year.

On a year-on-year basis, the trade deficit posted a decrease of 0.25 per cent as it reduced from $2.79 billion in November to $2.783 billion in the same period of the current fiscal year.

However, the exports in November 2018 decreased by 6.35 per cent and 3.15 per cent when compared with the exports during November 2017 and October 2018 respectively.

The exports decreased from $1.968 billion in November last year to $1.843 billion this year, whereas exports during October 2018 were recorded at $1.903 billion.

Similarly, in the month of November 2018, imports into the country reduced by 4.44 per cent as it was registered at $4.26 billion as compared to $4.841 billion during October 2018.

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