Nov. 12 (Bloomberg) -- Pakistan’s trade deficit narrowed by 28.4 percent in October as imports fell faster than exports.

The trade gap narrowed to $1.42 billion in the fourth month of the fiscal year, from $1.98 billion a year ago, according to data posted on the Web site of the Federal Bureau of Statistics in Islamabad.

Overseas sales rose 5.1 percent to $1.55 billion, while imports fell 14.1 percent to $2.97 billion, according to the data.

Pakistan is seeking to boost exports to sustain growth in a country where the World Bank estimates two-thirds of the population of 160 million people survive on less than $2 a day.

Pakistan’s trade deficit narrowed 40.5 percent to $4.51 billion in the four months ended Oct. 31, from $7.58 billion a year ago, according to the statistics agency. Exports fell 9.67 percent to $6.04 billion and imports dropped 26 percent to $10.6 billion in the four month period.

To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net

Last Updated: November 12, 2009 01:42 EST