KARACHI: Pakistan recorded a decline of 7.10% in exports in June 2023 as compared to May, ARY News reported on Tuesday, quoting the State Bank of Pakistan report.
According to the SBP report, the exports on a Year-on-Year (YOY) basis declined by 19.10% in June 2023 as compared to June 2022. In June 2023, the exports remained $2.35 billion.
The imports remained 4.21 billion dollars after a decline of 2.50% in June 2023 as compared to the month of May. On a year-on-year basis, the imports declined by 46.3 per cent in June 2023 as compared to last June 2022.
The State Bank of Pakistan further said that the Current Account Deficit (CAD) also recorded a massive decline of 62.3pc and was recorded at 1.86 billion dollars.
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Separately, the State Bank of Pakistan (SBP) will announce the first monetary policy rate of the fiscal year 2023-24 on July 31.
According to a statement issued, the central bank has announced convening a meeting of the Monetary Policy Committee (MPC) on July 31 that would review the overall financial position of the country, economic indicators as well as performance of different internal and external sectors and decide about the Monetary Policy.
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