ISLAMABAD: Pakistan’s trade deficit has reduced by over eight per cent in the first half of the current fiscal year falling to $ 9.032 billion in July-December 2013 from $ 9.898 billion against the same period of previous fiscal year as data of Pakistan Bureau of Statistics revealed.
Exports in the first half rose slightly, but imports fell mainly because of petroleum products. Exports rose to $ 12.639 billion in July-Dec 2013 from $ 12.024 billion over the corresponding months last year, showing an increase of 5.11 per cent.
On monthly basis, exports witnessed a growth of 15.54 per cent as its export proceeds reached $ 2.275 billion in December 2013 from $ 1.969 billion over the corresponding month of last year.
Depreciation of rupee also facilitated export of goods from the country in the first half from a year ago. In terms of rupee, export proceeds witnessed growth of 15.65 per cent in July-Dec 2013 over the corresponding months of last year.
Import bill declined by 1.14 per cent to $ 21.671 billion in July-Dec 2013 from $ 21.922 billion over the corresponding months last year. On monthly basis, imports witnessed a negative growth of 3.02 per cent to $ 3.561 billion in December 2013 as against $ 3.672 billion over the corresponding month of last year.
