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July exports declined by 9.2%

Karachi: The exports from Pakistan witnessed a decline of 9.2% MoM to USD2.2 bn as against USD 2.4bn in June, 2011.

According to Alfalah Securities Limited, while the imports also declined by 4.5%MoM in July to USD 3.6bn taking the trade deficit to USD 1.48 bn. However, exports were higher by 27.6% in July 2011 when compared with the same period last year which were USD 1.7bn in July 2010. Similarly, the imports surged by 13.8% YoY basis. The changes in exports and imports are mainly driven by the prices in the international market rather than variation in quantities traded.

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