The State Bank of Pakistan (SBP) has released the latest statistics on Pakistan’s imports, exports, and trade deficit, revealing significant developments in the trade sector.
According to the data, Pakistan experienced a noteworthy increase in exports during February, with goods valued at $2.06 billion sold to foreign countries, marking an impressive 18% surge compared to previous months.
In contrast, import activity also saw a notable rise, totaling $4.03 billion in February, reflecting a 10% uptick and indicating increased economic activity and demand for foreign goods.
Despite the rise in both exports and imports, the trade deficit for February remains a concern.
However, there is optimism in the broader context, as the trade deficit for the first eight months of the current fiscal year saw a significant reduction. The deficit decreased by 30%, amounting to $14.9 billion during this period.