PBS Report: Pakistan’s Trade Deficit Hits $26.27 Billion for FY2024-25

ISLAMABAD: New data released by the Pakistan Bureau of Statistics (PBS) paints a concerning picture for the nation’s economy, as the trade deficit ballooned to a staggering $26.27 billion for the fiscal year 2024-25. This significant widening of the gap between imports and exports highlights a growing challenge for policymakers aiming to stabilize the country’s financial health.

The report, which includes detailed figures for June, reveals that the trade deficit for the single month of June alone stood at $2.32 billion. While exports did see a modest increase, growing by 4.67% to just over $32.10 billion in the last fiscal year, this was overshadowed by a more substantial surge in imports.

According to the official documents, imports climbed by 6.57%, reaching a hefty $58.38 billion during the same period. The persistent growth in imports outstripping export gains is a key factor behind the widening deficit. This trend underscores the urgent need for strategies to boost export competitiveness and potentially manage import demand to ensure long-term economic stability. The continued expansion of the trade deficit could place further pressure on the national currency and foreign exchange reserves.