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      22 Palestinians killed over two days in Isreal’s air strike

      Two more IDF soldiers killed as Israel-Gaza War enters 61st day

      Nigerian Army drone strike accidentally kills 85 civilians

      Nigerian Army drone strike accidentally kills 85 civilians

      Manipur: Thousands flee after death toll reaches 54 in ethnic violence

      At least 13 killed in armed fighting in India’s ethnic riots-hit Manipur

      Gaza officials say more than 700 killed in overnight Israeli attacks

      Gaza fighting stretches into second day after Israel-Hamas truce collapses

      15 people killed in Israeli attack on Al-Shifa hospital in Gaza

      Isreal resumes attack soon after truce expires, dozens killed in Khan Younis

      US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

      US charges Indian national Nikhil Gupta with conspiracy to kill Sikh leader

      American supermodel Gigi Hadid offers apology after sharing her views on Gaza situation

      American supermodel Gigi Hadid offers apology after sharing her views on Gaza situation

      US Osprey military aircraft with 8 crew crashes off Japan

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      IMF postpones talks with Pakistan seeking details of flood relief expenditure

      Pakistani authorities ‘delivering’ economic front, says IMF official

      SECP registers 2414 companies in last month

      SECP registers over 27,000 new companies in FY2023

      PAC asks Prime Minister to scrap gas meter rent from consumers

      SNGPL seeks another tariff hike by 137%

      PM Kakar calls emergency meeting tomorrow over electricity inflated bills

      NEPRA declares K-Electric, power companies responsible for overbilling

      Gold price decreases Rs1,800 per tola

      Gold price soars Rs3100 per tola

      Pakistan’s trade deficit shrinks by 33.59pc in five months

      Pakistan’s trade deficit shrinks by 33.59pc in five months

      OGRA reduces prices of LPG for June 2023

      Saudi Arabia to provide $1 billion support to Pakistan in oil sector

      Saudi Arabia extends term for $3bn deposit to Pakistan

      World Bank urges consensus on reforms to revive Pakistan’s ailing economy

      World Bank raises policy shifts for ‘sustainable, productive’ Pakistan

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      Bobby Deol breaks silence on limited screen time in ‘Animal’

      Bobby Deol breaks silence on limited screen time in ‘Animal’

      Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

      Vicky Kaushal’s ‘Sam Bahadur’ struggles in Box Office clash with ‘Animal’

      “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

      “Sometimes Kabaddi Players Get Paid More Than Me”, Abhishek Bachchan

      Bargain bucket Harry Potter book ‘worth £60,000’

      Bargain bucket Harry Potter book ‘worth £60,000’

      Rani Mukerji, Kajol break silence on their cold war

      Rani Mukerji, Kajol break silence on their cold war

      British Pakistani Opera Star Saira Peter releases Maulana Rumi’s Qawwali fusion

      Saira Peter stuns audience at Lahore gymkhana

      I am a woman not a parcel, Alia Bhatt out bursts

      After Rashmika, Alia Bhatt falls prey victim of deepfake video

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      Scoring 100 international centuries ‘tough job’ for Kohli, says Brian Lara

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      Nida, Bismah reflect on Pakistan’s historic T20 series win over New Zealand

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      PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

      PCB grants NOCs to Haris Rauf, Usama Mir, Zaman Khan for BBL

      Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

      Bangladesh secures historic win in Sylhet test as New Zealand fail trial by spin

      Bangladesh near victory as New Zealand fail trial by spin

      Bangladesh near victory as New Zealand fail trial by spin

      Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

      Imad Wasim signs Melbourne Stars for Big Bash League 2023/24

      Sarfraz ton saves Pakistan from defeat

      Shan Masood hints Sarfaraz Ahmed as first-choice wicketkeeper against Australia

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      Conquering Overthinking: Strategies for a Clearer Mind

      Conquering Overthinking: Strategies for a Clearer Mind

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      Always Love Yourself First: Embracing Self-Love and Respect

      Exploring the Path to Real Happiness: Living in the Present with Joy

      Exploring the Path to Real Happiness: Living in the Present with Joy

      No need to nullify NAB laws, Supreme Court

      PTI to return assembly if wants amendments in NAB laws, SCP

      IK including Bushra Bibi declares his assets including

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      11-month economic slump ends, as exports increase in Sept

      Web Desk by Web Desk
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      The Pakistan Bureau of Statistics (PBS) reported an increase in exports by 1.15% to $2.465 billion in September 2023, for the first time in 11 months, overturning a lengthy slump attributed to the country’s dwindling economy.

      According to PBS data reported by media, the exports stood at $2.437 billion in the same month last year. The growth, it added, was modest but significant, as it happened in the wake of 11 consecutive months of year-on-year reductions ranging from 3.25% to 26.2%.

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      As the exports rose by 4.2% over those in August 2023 which stood at $2.366 billion, the turnaround was apparent on a monthly basis, the PBS mentioned in its report.

      The shift was seen last month in August when the pace of decline slowed to single-digit from earlier sharp declines seen since October last year. Notably, year-on-year in October 2022, exports reduced by 3.25%, November 17.6%, December 16.3%, January 14.15%, February 22.7%, March 14.6%, April 26.2%, May 16.2%, June 19.1%, July 8.09%, August 4.7%, but now in September it increased by 1.15%.

      The imports fell sharply by 25.3% to $3.95 billion in September 2023 from a year ago, mainly due to lower oil prices, reduced demand for machinery and raw materials, and tight import controls by the government to curb the trade deficit.

      On a monthly basis, imports dropped by 12.7% from $4.5 billion in August 2023. As a result, the trade deficit narrowed by 47.9% to $1.49 billion in September 2023 from $2.86 billion in September 2022. In August 2023, the deficit was $2.16 billion.

      In the first quarter of the current fiscal year (July-September 2023-24), exports fell by 3.8% to $6.9 billion, while its imports declined by 25.4% to $12.2 billion, compared with the same period of the previous fiscal year. The trade deficit shrank by 42.15% to $5.29 billion in the first quarter of FY24 from $9.16 billion in the first quarter of FY23.

      In FY23, Pakistan’s trade deficit fell by 43% to $27.55 billion from $48.35 billion in FY22, as total exports dipped by 12.7% to $27.7 billion and imports contracted by 31% to $55.3 billion.

      The data also showed that the trade deficit in services widened by 174% to $463 million in July-August 2023-24 from $169 million in July-August 2022-23 due to higher demand for foreign services as the economy reopened.

      From July to August 2023-24, Pakistan spent $1.6 billion on the services it hired from abroad and offered its services of $1.14 billion. Similarly, in the same period last year, exports were $1.1 billion and imports of $1.28 billion. During these two months, exports increased by 2% while imports up by 24.7%. In August, services exports were valued at $600 million, while imports amounted to $789 million, resulting in a deficit of $189 million.

      In July 2023, exports were at $535 million, imports at $809 million, and the deficit at $274 million. During the month under review, services exports increased by 12.14%, and imports decreased by 2.45% compared to the previous month. Comparing August 2023’services trade performance to the same month of the previous year, exports were up by 2.34%, and imports also increased by 9.1%.

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      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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