Pakistan’s trade deficit decreased by 34.29% to $11.15 billion in the first six months of the year 2023-24. This was because the country reduced imports and slightly increased exports. In December 2023, exports improved by 22.2% to $2.8 billion, while imports fell by 12.25% to $4.51 billion. Overall, exports increased by 5.17% to $14.98 billion in the first half of the year, and imports decreased by 16.3% to $26.13 billion. In December 2023, the trade deficit reduced by over 40% to $1.7 billion, down from $2.84 billion in the same period in the previous year. Monthly, the trade deficit declined by 13.4%, and exports improved by 9.3%, while imports decreased by 0.55%. This data shows that the trade deficit has been shrinking due to a decrease in imports and an increase in exports. This is good news for Pakistan’s economy. Source: Pakistan’s trade deficit narrows 34% to $9.38bn in 5MFY24

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