According to the Pakistan Bureau of Statistics (PBS), compared to a $3.2 billion trade deficit in July last year, the gap between imports and exports widened to $3.95 billion last month. There was an increase of $794 million in the trade deficit, or 25.2% higher, on an annual basis. Exporters achieving annual export growth of up to 10% over the preceding year shall be eligible for a rebate equivalent to 1% of the incremental export value. The monthly trade deficit was down by 15% or $709 million, showed the official statistics. The gap is filled by foreign remittances, as new loans are taken to pay back the maturing loans.