ISLAMABAD: Caretaker Minister for Interior Commerce and Industries Dr. Gohar Ejaz said that trade deficit narrowed to $ 1.879 billion in January 2024 from $ 2.689 billion in January 2023. This is substantial improvement from last year, said press release issued by Ministry of Commerce Dr. Gohar Ejaz announced positive trend in Pakistan’s exports. “Pakistan’s exports in January 2024 have increased by 26.9 percent to $ 2.786 billion from $ 2.195 billion in January 2023.”  Dr Gohar said that imports during same period decreased by 4.5 percent to $ 4.665 billion from $ 4.884 billion.

He said that Pakistan’s global trade figures for period of July 2023-January 2024, show that Pakistan is steadily expanding its international trade footprint. Exports totaled $ 17.766 billion, up 12 percent from $ 15.831 billion during same period in previous Financial Year, he said. He said that Imports contracted by 16 percent to $ 30.010 billion as compared to $ 35.836 billion in same period in last FY. Overall trade deficit has decreased by 39 percent to $ 12.244 billion as compared to $ 20.005 in previous year, he added. In absolute terms, during Jul-Jan 2024, exports increased by almost $ 2 billion and Imports decreased by $ 6 billion and trade deficit contracted by $ 7.8 billion.

“These positive trends reflect interim government’s unwavering commitment to promoting trade and economic growth. “I am confident that Pakistan is on right track to achieving its trade goals and becoming leading player in global economy.”

Published in The Daily National Courier, February, 02 2024

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