Pakistan's trade deficit surges 20% in September

Pakistan's trade deficit increased by 20.4 percent to $1.78 billion in September, compared to $1.48 billion in the same period of the previous year, according to data shared by the Pakistan Bureau Statistics (PBS) on Wednesday.

The trade deficit surged by 1.9 percent to $1.78 month-on-month, which was $1.75 in August 2024.

In the first three months of the ongoing fiscal year 2024-25, the trade deficit increased by 4.2 percent to $5.44 billion, cumulatively, compared to $5.21 billion in the same period of the corresponding year.

Meanwhile, the data also showed an increase in exports by 13.5 percent to $2.81 billion from $2.47 billion in September 2023.

The country witnessed a 1.6% increase in exports, reaching $2.8 billion compared to the $2.76 billion of last month.

Following the lifting of restrictions on imports, the expenditures of the country witnessed a surge of 16.1%, increasing to $4.58 billion year-on-year, compared to $3.95 billion in the same month of the last year.

On month-on-month, 1.7 percent additional import was witnessed in September 2024, compared to $4.59 billion in FY2024.

Previously, Pakistan’s trade deficit had shrunk to $3.6 billion during the first two months of this fiscal year.

The country balanced the gap between exports and imports, which led the trade deficit to a decline of $3.58 from July 1 to August 31. It is $160 million less than the same month of the previous year.