Pakistan trade deficit narrows 1.94pc

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ISLAMABAD, May 12 (APP): Country's trade deficit witnessed negative growth of 1.94 per cent during the first ten months of the current fiscal year as compared to the corresponding period of last year. The trade deficit narrowed to $12.1 billion in July-April (2010-11) as compared to the deficit of 10.03 billion last year, according to data released by Federal Bureau of Statistic here. The exports, which for the first time have crossed the $ 20 billion mark in the first 10 months of the current financial year, have helped reducing the trade gap. Exports during the period under review were recorded at $20.154 billion as against the exports of $15.773 billion during the same period of last year, showing an increase of 27.78 per cent.