Pakistan’s goods exports have climbed to $26.86 billion in the first ten months of the fiscal year 2024–25, marking a 6.25% year-on-year increase amid continued government efforts to stabilize the economy, according to official figures.
Despite this positive trend, the latest data from the Pakistan Bureau of Statistics (PBS) reveals a notable dip in April 2025 exports, which fell by 8.93% compared to the same month last year and declined 19% from March. This drop has contributed to a growing trade imbalance.
Imports during the July-April period rose by 7.37% to $48.2 billion, largely driven by increased demand for fuel, machinery, and industrial raw materials. As a result, the trade deficit widened by 8.8% year-on-year, reaching $21.35 billion.
In April alone, imports surged 14.1% to $5.53 billion, while exports slipped to $2.14 billion. This pushed the monthly trade deficit up 35.8% to $3.39 billion — the highest in nearly three years, according to analysts at Topline Securities.
On a month-over-month basis, the trade deficit jumped by 55% in April, compared to $2.18 billion in March. The sharp rise was due to a 19% drop in exports and a 14.5% increase in imports.
Meanwhile, the services sector also experienced a growing imbalance. Services exports rose 9.7% year-on-year to $6.24 billion during the first nine months of FY25, while imports grew 8.74% to $8.55 billion, widening the services trade deficit by 6.27% to $2.31 billion. In March 2025 alone, services exports rose to $743.3 million, while imports increased to $970.1 million.
Despite the rising trade deficit, Pakistan’s external account remains stable, supported by record remittance inflows. In March 2025, the country recorded its highest-ever monthly current account surplus of $1.2 billion, fueled by an all-time high in worker remittances of $4.1 billion. Finance Minister Muhammad Aurangzeb expressed confidence that the current account will remain in surplus through the end of the fiscal year.
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