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Pakistan’s trade gap reduces by more than $2b

Photo: AFP

Pakistan’s trade deficit was recorded at $ 19.26 billion with a 9.66 % reduction during the first seven months of the ongoing fiscal year 2018-19.

Pakistan’s exports remained $13.23 billion, while imports recorded at $ 32.49 billion during July to Dec 2018-19.

Trade deficit witnessed more than $2 billion reduction during the said period, according to the Pakistan Bureau of Statistics.

Related: Dollar on the rise, reaches Rs139.2

Government is expecting $5 billion to 6 billion reduction in the trade gap at the close of the year, said Commerce Secretary Younis Dhaga.

The imposition of ban on import of furnace oil and increased in regulatory duties on luxury items is yielding positive results as imports witnessed 5.17 % in first seven months, says Abdul Razaq Daud, the adviser to the prime minister on commerce.

The impact of recent rupee depreciation will be witnessed more positive results in exports, he said talking to media in Islamabad.

 

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Article source: https://www.samaa.tv/news/2019/02/pakistans-trade-gap-reduces-by-more-than-2b/

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