Summary Trade deficit in July 2015-May 2016 period stands at approximate $20 billion
ISLAMABAD (Dunya News) – Government is poised to sign accords with four countries in the financial year 2016-17 to up exports, reported Thursday.
The news has come in after the country saw a decline in total of exports in 2015-16.
According to Trade Ministry, the accords will be signed with Turkey, Thailand, South Korea and Iran. The agreements will give access to Pakistani products to new markets which will add numbers to the total exports.
Free-trade agreements will enforce uplifting of products’ standards at local markets.
It should be noted here that in the eleven months of 2015-16, exports dropped by 12 percent taking the sum to approximate $22 billion whereas imports stagnated at little over $41 billion.
Trade deficit in July 2015-May 2016 period stands at approximate $20 billion.
