Friday, April 19, 2024

Pakistan’s Trade Deficit Narrows as Exports Surge in February

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.

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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.

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Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

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