Pakistan's Nov 2008 trade gap narrows to $1.196 bln

KARACHI, Dec 12 (Reuters) - Pakistan's trade deficit narrowed to $1.196 billion in November from $1.62 billion in November 2008, and fell even more sharply from last month's deficit of $1.94 billion.

According to the Federal Bureau of Statistics data released on Thursday, exports stood at $1.53 billion in November, little changed from $1.54 billion in the same period of last year.

Imports fell to $2.72 billion in November from $3.16 billion a year ago, the data showed.

'Exports have not seen a rise, but imports have seen a sharp decline over October and also from November last year,' said Farhan Rizvi, an analyst at JS Global Capital Ltd.

'A decline in imports may be because of a decline in international oil prices and other commodities.'

Details of exports and imports have not yet been released.

Imports in November fell 21.5 percent from October and 14 percent from November last year.
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Global oil prices have fallen $100 from a record peak of $147.27 five months ago.
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The deficit for the first five months of the 2008/09 fiscal year to November widened to $8.736 billion as against $7.264 billion in the same period, last year.

Reporting by Sahar Ahmed

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