The State Bank of Pakistan (SBP) has unveiled the latest statistics concerning the country’s imports, exports, and trade deficit, shedding light on notable developments in the trade sector.
According to the released data, Pakistan witnessed a significant surge in its export figures during the month of February. Goods worth a total of $2.06 billion were sold to foreign countries during this period, marking an impressive 18% increase compared to previous months.
Conversely, the country's import activity also saw a notable rise, with imports totaling $4.03 billion in February. This represents a 10% uptick in import figures, indicating heightened economic activity and demand for foreign goods.
Despite the increase in both exports and imports, the trade deficit for February remained a concern. However, there is a silver lining in the broader picture, as the trade deficit for the first eight months of the current fiscal year witnessed a significant reduction. The trade deficit decreased by a substantial 30%, amounting to $14.9 billion during this period.
