Pakistan’s merchandise exports increased by 14.11% to $7.87 billion in the first quarter of the current fiscal year 2024-25, up from $6.90 billion in the same period last year, according to data released by the Pakistan Bureau of Statistics.
The upward trend started in July, bolstered by improved international orders and a stable exchange rate. Export growth in July stood at 11.83%, followed by a 16% rise in August and 13.52% in September.
Imports surged by 9.86% to $13.310 billion during the first quarter of the current fiscal year compared to $12.115 billion during the same period of last fiscal year.
The trade deficit widened by 4.24% during the first quarter of the current fiscal year and stood at $5.435 billion compared to $5.214 billion during the same period of the last fiscal year.
In September alone, exports totaled $2.81 billion, compared to $2.47 billion in the same month last year, marking a 1.56% increase on a month-on-month basis.
Imports registered 16.08% growth and stood at $4.585 billion in September when compared to $3.950 billion during the same month of last fiscal year.
The trade deficit in September widened by 20.35% year-on-year (YoY) to $1.780 billion as compared to a deficit of $1.479 billion recorded in the same month last year.Â
In a related development, the Federal Board of Revenue disbursed Rs146 billion in refunds to taxpayers during the first quarter of FY25, compared to Rs129 billion in the same period last year, reflecting a 13.17% increase. However, refunds dropped to Rs15 billion in September, down from Rs37 billion in the same month last year.
