Pakistan’s Trade Deficit Shrinks One-Third to $17 Billion

Pakistan’s trade deficit has declined by one third to $17 billion in the first half of the current fiscal year. The decrease is attributed to a decrease in imports, which are still high for a country with only $5.8 billion in foreign currency reserves, as well as political inaction to address the issue. According to the Pakistan Bureau of Statistics, exports amounted to $14.2 billion, a decrease of 5.8% or $876 million, during the period of July to December. Imports during the same period were $31.4 billion, a decrease of 22.6% or $9.2 billion. Despite subsidies, cheap loans, and other incentives, the country’s exports have declined in the first half of the fiscal year. Industrialists have also reported difficulties importing goods for producing exports due to limitations on imports

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