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Pakistan's trade deficit shrinks 0.3 pct in November
Last Updated: 2018-12-12 10:44 | Xinhua
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Pakistan's trade deficit continued a declining trend in the month of November in 2018, owing mainly to the contraction in the country's imports.

According to the Pakistan Bureau of Statistics (PBS) Tuesday, which is the country's premier government agency to record and release economic data, the South Asian country's trade deficit contracted by 0.3 percent to 2.78 billion U.S. dollars in November when compared with 2.79 billion U.S. dollars recorded in last year.

As per the month-on-month comparison, Pakistan's trade deficit declined by 5.3 percent from 2.94 billion U.S. dollars in October 2018.

According to economic experts, the decline in Pakistan's trade deficit was a result of a 2.8-percent fall in imports and a 6.4-percent decline in exports.

During the first five months of the fiscal year 2018-19, Pakistan's trade deficit fell by 2.0 percent to 14.51 billion U.S. dollars as against 14.81 billion U.S. dollars recorded during the first five months of the fiscal year of 2017-18.

Pakistan's exports were clocked in at 9.12 billion U.S. dollars during the first five months of the fiscal year 2018-19, an increase of 1.3 percent when compared with exports worth 9.00 billion U.S. dollars posted in the corresponding period of the last year.

During the five-month period under review, the Pakistani government's policy to impose restrictions on imports has started bearing fruit as the non-oil imports have posted negative numbers during the period, analysts here said.

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