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Pakistan’s exports surge by 8.93% to Rs22.91 billion

News Desk

Apr 02

Pakistan’s export sector has shown a notable surge, with an 8.93 per cent increase recorded in the initial nine months of the current fiscal year (2023–24) compared to the corresponding period in the previous year.

Data released by the Pakistan Bureau of Statistics (PBS) indicates that exports soared to $22.914 billion from July to March (2023–24), marking a significant rise from the $21.036 billion recorded during the same timeframe in 2022–2023.

Conversely, imports experienced a decline of 8.65 per cent, dropping to $39.944 billion from $43.724 billion in the previous year.

This resulted in a notable improvement in the trade deficit, which amounted to $17.030 billion for the first nine months of the current fiscal year, showcasing a substantial decrease of 24.94 per cent from the $22.688 billion recorded during the corresponding period last year.

Analyzing the performance for March 2024 against March 2023, exports registered a notable uptick of 7.99 per cent on an annual basis, climbing from $2.366 billion to $2.555 billion.

Conversely, imports surged by 25.86 per cent, reaching $4.726 billion compared to $3.755 billion in March 2023.

In terms of month-to-month performance, while exports in March 2024 experienced a marginal decline of 1.08 per cent from February 2024’s $2.583 billion, imports demonstrated a noteworthy increase of 9.25 per cent from the $4.326 billion recorded in February 2024, as per PBS data.

Pakistan, exports, trade deficit, fiscal year 2023–24, economic growth, Pakistan Bureau of Statistics, imports, March 2024, global trade, commerce, trade statistics,

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