Islamabad (Web Desk): Pakistan's exports recorded a significant increase of fourteen percent in the beginning of this financial year due to the support of Special Investment Facilitation Council (SIFC).
According to the statistics, exports increased by $620 million to reach $5.1 billion in August, the Radio Pakistan reported.
Due to increase in exports, the country's trade deficit has narrowed to $3.6 billion from $3.751 billion at the beginning of the current fiscal year.
Meanwhile, imports of high-duty items such as vehicles, home appliances, and other consumer goods such as garments, fabrics and footwear fell by 1.3% in August.
With the support of SIFC, the government is considering various measures to increase domestic exports and stabilize the economy.
Recently, a trade liberalization plan has been finalized to boost the country's exports and economy.
The country's external debt has decreased in the last few months as a result of government's measures to strengthen the economy.