However, the $5.76 billion reduction in the trade deficit
was undergirded by the deceleration of economic growth from 5.5% to 3.3% and imposition of regulatory duties, resulting in a $6 billion fall in imports.
Finally, the Non-Oil, Non-Machinery (NONM) trade deficit
refreshingly resumed a declining trend, down by 43% MoM, indicating that the attractiveness of imported goods has decreased in the wake of a devalued local currency.
According to the data, the trade deficit
between Pakistan and China was continuously increasing till the fiscal year 2017-18 when it has reached to $14 billion.
The reduction in exports and imports had narrowed the trade deficit
of the country.
With this, the country's trade deficit
was the largest in East Asia at $1.769 billion followed closely by the Asean at $1.402 billion.
The Commerce Department said the December trade deficit
of $59.8 billion was the largest since October 2008.
Trump often misrepresents the trade deficit
. He has frequently labeled it an outright economic loss.
According to data released by the Pakistan Bureau of Statistics on Monday, the trade deficit
plummeted 31.7% year-on-year (YoY) in January clocking at $2.5 billion compared to $3.6 billion in the same month last year.
Preliminary Philippine Statistics Authority (PSA) data released Tuesday showed that the trade deficit
continued to widen from $26.702 billion in 2016 and $27.38 billion in 2017.
Pakistan's trade deficit
the difference between imports and exports has a troubled relationship with the rest of our economy.
The services trade deficit
contracted to US $ 1.432 billion in Jul-Nov 2018 from US $ 2.216 billion in same period of the year 2017, according to latest data released by Pakistan Bureau of Statistics (PBS).