ISLAMABAD: Pakistan’s trade deficit narrowed significantly by 18.60% year-on-year (YoY) in November 2024, declining 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 surged by 8.98% YoY, reaching $2.804 billion in November 2024 compared to $2.573 billion in November 2023. Imports fell by 2.92% YoY to $4.393 billion in November 2024, down from $4.525 billion in the same period last year.
On a month-on-month (MoM) basis, the trade deficit slightly widened by 0.19%, increasing from $1.586 billion in October 2024 to $1.589 billion in November 2024. Exports experienced a 5.97% decline, 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% YoY, reducing to $8.651 billion compared to $9.341 billion in the same period of FY24. Exports grew by 12.57%, totaling $13.691 billion during July-November FY25, up from $12.162 billion in the corresponding period of FY24. Imports rose by 3.90%, reaching $22.342 billion during the first five months of FY25, compared to $21.503 billion in the same timeframe last year.
