Exports rebound to $2.35bn
The exports of merchandise rose year-on-year by 10.02 per cent in April after a slowdown in growth in the previous month, according to data released by the Pakistan Bureau of Statistics on Thursday. Export proceeds increased by double-digits since December before slowing in March. However, the exports shrank 9pc month-on-month. In absolute terms, exports reached $2.35 billion in April from $2.14 billion in the corresponding month last year. They reached $25.28bn during the first 10 months of the current fiscal year from $23.17bn over the corresponding period last year, indicating an increase of 9.10pc. The trade deficit increased by 180.58pc year-on-year to $2.37 billion in April, up from $846 million in the same month last year. This was due to a rebound in import growth, while exports remained stagnant at roughly $2.3bn.