Pakistan’s exports dropped by nearly 13% in first month of FY24

• Pakistan’s exports fell by 13% in July 2023, reaching $2.057 billion.
• Imports also declined by 13.15% in July 2023, amounting to $3.664 billion.
• Pakistan’s exports experienced an 8.57% year-on-year decline in July 2023.

According to the Pakistan Bureau of Statistics (PBS), the country’s exports fell by 13% on a month-on-month basis in the first month (July) of FY24, reaching $2.057 billion compared to $2.356 billion in June 2023.

In July 2023, Pakistan’s trade deficit decreased by 13.35% on a month-on-month basis, reaching $1.607 billion compared to $1.863 billion in June 2023. Additionally, the country’s imports also declined by 13.15% in July 2023, amounting to $3.664 billion compared to $4.219 billion in June 2023.

In July 2023, Pakistan’s exports experienced an 8.57% year-on-year decline, totaling $2.057 billion compared to $2.250 billion in July 2022.

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In July 2023, Pakistan’s imports declined to $3.664 billion from $4.981 billion in July 2022, representing a negative growth rate of 26.44%. The trade deficit also narrowed significantly by 41.16% year-on-year, amounting to $1.607 billion in July 2023 compared to $2.731 billion in July 2022.

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