ISLAMABAD: Pakistan's trade deficit narrowed by 8.75 percent during the first half of the current fiscal year as exports expanded by 5.11 percent while imports decreased by 1.14 percent as compared to the same period of last year.

On year-on-year basis, the trade deficit decreased by 24.49 percent in December 2013 when compared to the deficit of the same month of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).

According to break figures, the exports from the country during July-December (2013-14) were recorded at $12.639 billion against the exports of $12.024 billion recorded during July-December 2012-13.

On the other hand, the imports into the country during the first half of the current fiscal year were recorded at $21.671 billion against the imports of $21.922 billion during the corresponding period of last year, showing decrease of 1.14 percent.

Based on the figures, the trade deficit during July-December (2013-14) was recorded at $9.032 billion against the deficit of $9.898 billion in July-December (2012-13), showing negative growth of 8.75 percent.

Meanwhile, on year-on-year basis, the exports from the country in December 2013 increased by 15.54 percent to $2.275 billion when compared to the exports of $1.969 billion in December 2012.

On the other hand, the imports into the country decreased by 3.02 percent by falling from $3.672 billion in December 2012 to $3.561 billion in December 2013, the PBS data revealed.

Based on the figures, the trade deficit in December 2013 was recorded at $1.286 billion against the deficit of $1.703 billion in December 2013, showing negative growth of 24.49 percent.

On the other hand, exports in December 2013 increased by 26.11 percent when compared to the exports of $1.804 billion in November 2013.

The imports into the country decreased by 2.47 percent in December 2013 when compared to the imports of $3.651 billion in November 2013, according to the data.

Based on the figures, the deficit in December 2013 stood at $1.286 billion against the deficit of $1.847 billion in November 2013, showing negative growth of 30.37 percent.

SOURCE: APP