However, imports in October 2020 were 11.59% lower than imports in September 2020 and 5.73% lower than imports in October 2019. Trade deficit declined by 28.50% in October 2020 over the value reported in September 2020 and 14.46% over the value reported in October 2019. With textile exports expected to increase, it is important to note a sharp increase in imports of raw cotton and synthetic fibre. Although a few items were initially banned from exports, Pakistan has a small export basket. Pakistan must make full use of this rare opportunity.

Source: The Express Tribune November 16, 2020 03:55 UTC