{"id":3359,"date":"2023-11-02T05:28:18","date_gmt":"2023-11-02T05:28:18","guid":{"rendered":"https:\/\/voiceofmelange.global\/?p=3359"},"modified":"2023-11-02T05:28:20","modified_gmt":"2023-11-02T05:28:20","slug":"fm-commerce-welcomes-upward-trend-in-international-trade-figures-fiscal-year-2023-24-shows-encouraging-growth","status":"publish","type":"post","link":"https:\/\/voiceofmelange.global\/?p=3359","title":{"rendered":"FM Commerce Welcomes Upward Trend in International Trade Figures: Fiscal Year 2023-24 Shows Encouraging Growth"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"786\" data-id=\"3360\" src=\"https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/11\/IMG-20231021-WA0024.jpg\" alt=\"\" class=\"wp-image-3360\" srcset=\"https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/11\/IMG-20231021-WA0024.jpg 1024w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/11\/IMG-20231021-WA0024-300x230.jpg 300w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/11\/IMG-20231021-WA0024-768x590.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>Islamabad, \u2014 Federal Minister for Commerce, Industries and Production, Dr. Gohar Ejaz is pleased to announce a remarkable surge in the country&#8217;s international trade performance. As the figures for the Fiscal Year 2023-24 unfold, the nation has showcased substantial progress, outshining the previous fiscal year and demonstrating robust growth.<\/p>\n\n\n\n<p>Key among the statistics is the dynamic upswing in exports. For the month of October 2023, Pakistan&#8217;s exports soared by 13.6%, scaling up to $2.707 billion as compared to $2.384 billion during the same period last year. This formidable increase underlines the nation&#8217;s evolving prowess in the global market.<\/p>\n\n\n\n<p>Similarly, the import figures for October 2023 revealed a 4.9% rise, reaching $4.806 billion from $4.581 billion in the preceding year. Notably, despite this uptick in imports, the trade deficit witnessed a significant contraction, marking a decline of 4.5% to $2.099 billion, signifying a positive trend in the trade balance for the nation.<\/p>\n\n\n\n<p>In the broader scope of July-October 2023, the upward trajectory of exports persisted, manifesting a 0.66% rise to $9.6 billion from $9.5 billion in the corresponding period of the previous year. Conversely, imports during this period showcased a considerable drop of 18.5%, plummeting to $17 billion from $21 billion.<\/p>\n\n\n\n<p>As a result of this effort, the trade deficit experienced a notable reduction of 35%, narrowing down to $7.416 billion from $11.356 billion during the same duration last year. This decline in the trade deficit exemplifies the commendable efforts of the Ministry of Commerce in fostering a more balanced and sustainable trade landscape.<\/p>\n\n\n\n<p>Minister Dr. Gohar Ejaz expressed his contentment at these encouraging figures, attributing the consistent growth to the collective efforts of all stakeholders, businesses, and the government&#8217;s unwavering commitment to bolster Pakistan&#8217;s presence in the global trade arena. He said, &#8221; I remain dedicated to furthering these positive trends, aiming to fortify Pakistan&#8217;s position as a significant player in the international market while ensuring sustainable and inclusive economic growth&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad, \u2014 Federal Minister for Commerce, Industries and Production, Dr. Gohar Ejaz is pleased to announce a remarkable surge in the country&#8217;s international trade performance. As the figures for the&hellip; <\/p>\n","protected":false},"author":4,"featured_media":3360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/3359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3359"}],"version-history":[{"count":1,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/3359\/revisions"}],"predecessor-version":[{"id":3361,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/3359\/revisions\/3361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/media\/3360"}],"wp:attachment":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}