April trade deficit shrinks

ISLAMABAD: The country’s trade deficit narrowed to $1.43 billion in April, compared with $2.30 billion in April last year, Federal Bureau of Statistic said on Tuesday.

Exports stood at $1.36 billion in April this year, as against $1.79 billion in the same period last year. Imports were worth $2.79 billion compared with $4.09 billion last year.

The deficit in the first 10 months of the 2008/09 fiscal year to April, narrowed to $14.16 billion compared with $16.83 billion in the corresponding period last year, the data showed.

The change is put down to weaker fuel prices, and a lower demand for imports following the global recession.