Pakistan’s trade deficit contracts 31% YoY to $1.5bn in October 2024

Pakistan’s trade deficit significantly decreased by 31% to $1.5 billion in October 2024 as compared to the same month of the previous year, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

The country’s trade balance, gap between exports and imports, was recorded at a deficit of $2.17 billion in October 2023.

The trade deficit narrowed year-on-year (YoY) in October 2024 on the back on an increase in the country’s exports along with a decrease recorded in the imports.

Pakistan’s trade deficit widens marginally to $5.4bn in 3MFY25

Trade deficit of $1.5 billion in October 2024 is the lowest after September 2023, brokerage house Arif Habib Limited said.

Exports in October 2024 stood at $2.97 billion, up 10.64% against $2.69 billion recorded in October 2023.

Meanwhile, imports were recorded at $4.47 billion, down 8% against $4.86 billion in the same period the last year (SPLY).

On month-on-month (MoM) basis, trade deficit decreased 17.69% in October 2024 against $1.82 billion in SPLY.

Pakistan’s trade deficit shrinks marginally to $3.6bn in 2MFY25

During the first four months of the fiscal year 2024-25 (4MFY25), the country’s trade deficit narrowed 5.59% to $6.97 billion from $7.39 billion recorded in SPLY.

Exports in 4MFY25 increased by 13.45% to $10.88 billion from $9.59 billion in SPLY.

Imports in 4MFY25 also rose by 5.17% to $17.85 billion from $16.98 billion recorded in 4MFY24.

Trade deficit of $6.97 billion in 4MFY25 is the lowest level since 4MFY14, according to Arif Habib Limited.