17.5 C
Hamburg
Monday, June 2, 2025
Home News Imports stay static in Pakistan

Imports stay static in Pakistan

ISLAMABAD: The trade deficit marginally contracted to $11.8 billion in first four months of the current fiscal year on the back of almost flat growth in imports for the fourth consecutive month while the pace of increase in exports remained modest despite numerous rounds of currency depreciation.

The $11.8-billion deficit, recorded in July-October FY19, was nearly 2% or $237 million lesser than the same period of last fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Friday (Nov. 9).

Exports in the July-October period increased 3.52% to $7.3 billion. In absolute terms, the export receipts rose $248 million, but the pace of increase was slower than the preceding year.

The value of imported goods stood at $19.1 billion, which was only 0.6% or $11 million higher than the import bill in the corresponding period of previous fiscal year.

Exports of goods were 261% less than the value of imports. Imports of the country have started to ease due to the State Bank of Pakistan (SBP)’s numerous policy and administrative measures. Additionally, the federal government has imposed heavy regulatory duties on imported goods.

Read more on The Express Tribune.

 





Latest Posts

Ukrainian ports face new risks after drone strikes on Russia

On June 1, 2025, Ukraine launched a large-scale, simultaneous drone strike campaign targeting multiple Russian air bases deep inside enemy territory. This marks a significant...

Mixed response to Suez Canal discounts

Container lines are mostly not ready to follow CMA CGM in dabbling with a Red Sea return, notwithstanding the Suez Canal Authority's (SCA's) discounts,...

Mersin International Port completes first phase of expansion project

Mersin International Port Management Inc. (MIP), a key gateway terminal in Türkiye and a joint venture between PSA International, IFM, and Akfen, officially completed...

GEODIS unveils low-carbon air freight solution

GEODIS introduces GEODIS AirSmart, an innovative low-carbon air freight service designed to minimize greenhouse gas emissions through optimized performance. The official launch takes place today...

Gemini partners on track for 90% schedule reliability target

In April, global schedule reliability improved by 1.7 percentage points M/M to 58.7%, the highest level recorded since November 2023, according to Danish maritime...
error: Content is protected !!