Karachi, November 14, 2012 (PPI-OT): The trade deficit remained at USD 1.774 billion in October 2012 which is higher by 2.72% as against the same month last year.
According to Alfalah Securities Limited, exports stood at USD 2.016 billion in October higher by 7.23% as compared to USD 1.88 billion last year while imports stood at USD 3.79 billion during October 2012 up by 5.07% from USD 3.607 billion as reported by Pakistan Bureau of Statistics (PBS).
On cumulative basis the trade deficit surged to USD 6.44 billion during 4M FY13 from July to October 2012 which is lower by 6.8%YoY. The exports stood at USD 8.203 billion which surged by 4.97%YoY and imports were recorded at USD 14.64 billion which declined marginally by 0.56%YoY. The trade deficit narrowed slightly mainly on the back of rise in exports as a result of steep devaluation of Pak Rupee against US Dollar. The lower trade deficit bodes well for the economic stability of country by lowering the economic woes.