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Import restrictions yield fruit, CAD imbalance getting smaller

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As the current account deficit (CAD) is on the fall the government s goal of limiting imports to relieve pressure on foreign exchange reserves has begun to show benefits.
In December CAD was at $5.42 billion less than the prior year in the first half of the current fiscal year,
CAD in the first half of the current fiscal year was $3.66 billion against more than $9 billion in the corresponding time of the previous fiscal year, according to statistics from SBP.
The deficit was $400 million in December 2022 and $250 million in November. Between July and December imports declined by $6.5 billion and the first half of the current fiscal year saw imports of $29 billion as opposed to $36 billion the year before.
The trade deficit from July to December 2022 was $15.3 billion compared to $20.85 billion in the first half of 2021–2022.
The figures show that the services sector had a deficit of $350 million from July to December, $ 2.14 billion in the first half of the previous fiscal year, and $ 7.33 billion in the first half of the current fiscal year. 

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