IslamabadPakistan’s trade deficit significantly shrank by 18.60% year-on-year in November 2024, falling to $1.589 billion from $1.952 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).
Pakistan’s exports rose 8.98% year-on-year, to $2.804 billion in November 2024 from $2.573 billion in November 2023. Imports fell 2.92% year-on-year to $4.393 billion in November 2024, down from $4.525 billion in the same period of last year.
On a monthly basis, the trade deficit widened slightly by 0.19%, rising from $1.586 billion in October 2024 to $1.589 billion in November 2024. Exports saw a decline of 5.97%, falling to $2.804 billion in November 2024 from $2.982 billion. In October 2024. Imports decreased by 3.83% to $4.393 billion in November 2024 compared to $4.568 billion in October 2024.
During the first five months of FY25, the trade deficit narrowed by 7.39% year-on-year, falling to $8.651 billion compared to $9.341 billion in the same period of FY24. Exports grew by 12.57%, reaching a total of $13.691 billion during July-November period of fiscal year 2025, up from $12.162 billion in the corresponding period of the year FY24. Imports rose by 3.90% to reach $22.342 billion during the first five months of FY25, compared to $21.503 billion in the same time frame last year.