KARACHI: According to State Bank of Pakistan data, Pakistan’s exports fell by 7.10% in June 2023 compared to May.
According to the SBP report, exports fell 19.10% year on year (YOY) in June 2023 compared to June 2022. Exports will continue at $2.35 billion in June 2023.
Imports stayed at 4.21 billion dollars in June 2023, a 2.50% decrease from the previous month. Imports fell by 46.3 percent year on year in June 2023 compared to June 2022.
The State Bank of Pakistan also stated that the Current Account Deficit (CAD) decreased by 62.3 percent and was recorded at 1.86 billion dollars.
Separately, on July 31, the State Bank of Pakistan (SBP) will publish the first monetary policy rate for the fiscal year 2023-24.
According to a statement, the central bank has announced the convening of a meeting of the Monetary Policy Committee (MPC) on July 31 to review the country’s overall financial position, economic indicators, and performance of various internal and external sectors and decide on Monetary Policy.