Trade deficit narrows by 35% in 1Q

Pakistan’s trade deficit narrowed by around 35% in 1QFY20 mainly due to reduction in imports. Trade deficit was recorded at $ 5.73Bn as compared to $ 8.79Bn in 1QFY19. Imports were recorded at $ 11.25Bn as against $ 14.17Bn, showing reduction of 20.59% while exports recorded minor growth of 2.75% as it exported goods worth of $ 5.52Bn. Imports have started declining due to the imposition of regulatory duties on luxury items and automobiles.