ISLAMABAD: Pakistan’s trade deficit with the Middle East increased 10.87 per cent to $4.781 billion in the first four months of 2024-25 compared to $4.312bn in the same period last year, driven by higher petroleum imports from the region.
The State Bank of Pakistan reported that petroleum consumption increased in the current fiscal year, with petroleum crude imports growing by over 16 per cent during July-October FY25. In contrast, the trade deficit with the Middle East had decreased by 20.47pc to $13.014bn in FY24 from $16.365bn in FY23 due to lower petroleum imports.
Pakistan’s exports to the Middle East rose 12.64pc to $1.082bn in July-October FY25, up from $705.27m in the same period last year. Imports from the region grew 11.18pc to $5.863bn during the same period, compared to $5.273bn last year.
Exports to Saudi Arabia increased 14.23pc to $245.57m in 4MFY25 from $214.98m last year, while imports from the kingdom rose 18.03pc to $1.332bn compared to $1.125bn. In FY24, exports to Saudi Arabia had grown by 40.98pc to $710.335m from $503.851m in FY23.
Exports to the UAE increased 17.94pc to $737.55m in July-October FY25 compared to $625.35m last year, while imports from the UAE rose 23.46pc to $2.652bn from $2.148bn. Major export products to the UAE included rice, bovine carcasses, men’s and boys’ cotton ensembles, guavas, and mangoes.
Exports to Bahrain declined 19.44pc to $19.18m in 4MFY25 from $23.81m last year, while imports from Bahrain rose 155.39pc to $71.69m from $28.07m. Exports to Kuwait dropped 9.65pc to $37.53m compared to $41.54m, but imports increased 41.67pc to $634.32m from $447.73m.
Exports to Qatar fell 21.57pc to $43.06m in 4MFY25 from $54.92m last year, while imports grew 14.43pc to $1.173bn compared to $1.025bn during the same period last year.
The data shows changes in trade patterns driven by higher petroleum imports and varying export demands in the Middle East.
