The Pakistan Bureau of Statistics (PBS) has reported a decrease in trade deficit decreased by 39.62 per cent during the first 10 months of the ongoing fiscal year.

The deficit during this span was $237.1 million, as compared to $39.027 billion in the same period last year, the bureau said, adding that during the July to April period, the exports decreased by 11.71pc amounting to $23.17 billion.

This is a significant decline from last year’s figure of $26.24 billion, it said adding that imports declined by 28.44 percent ($46.088 billion). In the same period last year, the figure stood at $65.51 billion.

In April, exports decreased by 10.46% compared to March, with a total value of $2.12 billion, compared to $2.370 billion in March.

Overall, the trade deficit has seen a significant reduction during the first 10 months of the fiscal year. The report indicates that this reduction may be due to a decrease in imports, which have decreased by almost 30%, while exports have only decreased by around 12%.