ISLAMABAD: Pakistan’s trade deficit narrowed to $1.498 billion in October 2024, marking a significant 31% decrease from the $2.174 billion deficit recorded in October 2023, according to the latest data from the Pakistan Bureau of Statistics (PBS) released on Friday.
On a month-to-month basis, the trade deficit also saw an 18% reduction compared to the $1.820 billion deficit reported in September 2024.
In October 2024, exports reached $2.975 billion, reflecting an 11% year-on-year increase and a 5% rise from the previous month. Conversely, imports totaled $4.473 billion, representing an 8% decrease compared to October 2023 and a 4% decline from September 2024.
For the first four months of the current fiscal year (4MFY25), the cumulative trade deficit stood at $6.974 billion, down 6% from the $7.387 billion deficit recorded in the same period last year. During this timeframe, imports increased by 13% year-on-year to $10.880 billion, while exports rose by 5%, totaling $17.854 billion.
This positive trend in the trade deficit reflects an encouraging shift in Pakistan’s trade landscape, with growing exports and decreasing imports contributing to a more balanced economic outlook.
