Islamabad (Commerce Desk): Pakistan’s trade deficit has surged by over $19 billion during the first six months of the fiscal year, raising concerns for the economy.
According to recent data, exports declined by 8.7% in the first half of the current fiscal year, while imports increased by 11.28%. During this period, the country exported more than $15.18 billion and imported over $34.38 billion.
In comparison, exports during the same period last year were $16.5 billion and imports were $30.9 billion. The report also notes that in December alone, exports fell by 20% while imports rose by 2%, contributing to the widening trade deficit.
Economic experts warn that without improvement in exports and control over imports, the rising deficit could put significant pressure on Pakistan’s economy.
