Pakistan’s trade deficit shrinks over 43 pct in FY 2022-23   

ISLAMABAD, 2023 June 5, Wednesday/Pakistan’s trade deficit in the 2022-23 fiscal year witnessed a decline of over 43 percent as compared to the previous fiscal year, the Pakistan Bureau of Statistics (PBS) said.

 The trade deficit was recorded at 27.547 billion U.S. dollars during July-June of 2022-23 fiscal year against the deficit of 48.354 billion U.S. dollars during the same period of the 2021-22 year, showing a decline of 43.03 percent, the PBS said on Tuesday.

 The exports during July-June of the year 2022-23 were recorded at 27.744 billion U.S. dollars against the exports of 31.782 billion dollars in the last fiscal year, showing a negative growth of 12.71 percent, the PBS data showed.

 On the other hand, the South Asian country’s imports witnessed a sharp decline of 31 percent, falling from 80.136 billion U.S. dollars during the 2021-22 fiscal year to 55.291 billion U.S. dollars in the 2022-23 fiscal year.  Xinhua