According to Pakistan Bureau of Statistics, Trade deficit observed substantial reduction during July 2019 to December 2019 against same period of previous year. Although increase in export figure is not remarkable but imports have been drastically reduced.
“The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.” Martin Feldstein
During this period, Pakistan’s exports are witnessed at $11.535 billion as against the exports of $11.181 billion in the same period of previous year and its imports fell drastically down from $27.952 billion to $23.163 billion.
Monthly analysis reveals, exports for December 2019 were recorded at USD 1.990 billions as compared with exports of USD 2.07 billions for month of December 2018. Imports shrank from USD 4.405 to USD 3.950 billions.