Pakistan’s trade deficit reached a record $34.75 billion in the first 11 months of the current fiscal year, reflecting a widening gap between imports and exports.
According to the Pakistan Bureau of Statistics (PBS), exports exceeded $27.90 billion during the July–May period, while imports were more than $62.66 billion. Exports fell 5.61% over the period, while imports rose 5.94% compared with the same period last fiscal year. Imports in the same period last year were over $59.14 billion.
On a monthly basis, exports in May rose 9.59% compared with April, while imports in May declined 21.55% month on month. Year on year, May exports were up 1.26% compared with May of the previous fiscal year, and imports fell 6.63% in the same comparison.
These figures underline the continuing challenges facing Pakistan’s external trade, with the trade gap at its highest recorded level despite recent monthly improvements in export performance and a reduction in imports.