ISLAMABAD: Pakistan’s trade gap narrowed down by over five per cent in the first nine months of this fiscal year.

In absolute terms, the trade deficit fell to $13.931 billion in July-March 2013-14 from $14.740bn in the corresponding period last year, showed data released by Pakistan Bureau of Statistics (PBS) on Thursday.

The export proceeds witnessed a paltry growth of 6.06pc, while imports witnessed a growth of less than 1pc during the period under review over the same period last year.

The ministry of commerce has estimated that exports would pick up because of duty exemptions on goods following GSP+ scheme, but the statistics show no boost in exports in the past three months.

On a monthly basis, exports reached $2.263bn in March 2014, up by 6.04pc from $2.134bn in the same month last year.

Export proceeds grew 6.06pc to $19.107bn in July-March period of this fiscal year from $18.016bn in the corresponding period last year.

In terms of rupee, export proceeds witnessed growth of 15.12pc in July-March period over the corresponding period of last year.

Contrary to this, imports reached $33.038bn in period under review, from $32.756bn in the corresponding period last year.

On monthly basis, imports witnessed a negative growth of 1.55pc to $3.630bn in March 2014 as against $3.687bn in March 2013.