Exports fell by 54 per cent, imports by 32 per cent and trade deficit by 14 per cent

Exports fell by 54 per cent, imports by 32 per cent and trade deficit by 14 per cent

Due to the corona, Pakistan's exports fell by 54% and imports by 32%. The trade deficit in April also declined by 14.5 per cent over the previous year. Due to the corona, the state of emergency around the world stifled trade activities, Pakistan's exports as well as imports fell significantly.

According to the report, Pakistan's exports in April 2020 were 54 percent lower than in April 2019, but imports of four products increased, basmati rice 21 percent, tents and tarpaulins 32 percent and plastic materials 30 percent more. According to officials, exports of cotton, wheat, sugar and coal remained completely closed while exports of textile products declined by 64.52 per cent, carpets by 92 per cent, sports goods by 77 per cent and leather products by 70 per cent less than the previous year. ۔ According to the import report, due to reduction in consumption, imports of petroleum products were reduced by 55%, crude oil by 86% and gas by 52%. Overall, imports were 32% lower than the previous year.

In April 2020, Pakistan's trade deficit narrowed to 14.40 percent from 2 2.62 billion in the same period last year, to 2 2.24 billion. According to officials, the trade deficit was reduced by more than 25% in 10 months.