In April 2020, Pakistan’s exports dropped by a huge 54pc compared to the same month last year due to the closure of global markets in the midst of the COVID-19 outbreak.
The country’s exports stood at $957 million in April 2020, compared to exports worth $2.089 billion in April 2019 and $1.8 billion in March 2020, according to data released by the Pakistan Bureau of Statistics (PBS). Cumulatively speaking, the country’s exports during the current fiscal year’s first 10 months (July-April) witnessed a 3.92pc fall, from $19.1 billion to $18.4 billion.
On the other hand, the country’s imports in April 2020 stood at $3.08 compared with last year’s $4.7 billion, showing a 34pc fall. Cumulatively speaking, the country’s imports experienced a 16.5pc decrease in the first 10 months of the current year, from $45.3 billion in 10MFY19 to $37.9 billion.
In April 2020, the country’s trade deficit was narrowing 19pc to $2,131 billion. The country’s trade deficit plummeted by about 26pc during the first 10 months of the current fiscal year, from $26.2 last year to $19.5 billion.
Extracted from City42 News
