Pakistan’s April exports slump over 17 per cent as imports hit 11-month high

ISLAMABAD: Pakistan’s exports dropped sharply in April while imports continued to rise, deepening the country’s trade imbalance, according to data released by the Pakistan Bureau of Statistics (PBS).

Goods exports fell to Rs611.3 billion ($2.18 billion) in April, down 17.5 per cent from March and 6.5 per cent from the same month last year. In dollar terms, exports declined 17.7 per cent from March and 7.4 per cent year-on-year.

Despite the monthly dip, exports for the July–April period of the current fiscal year rose 4.5 per cent to Rs7.5 trillion compared to the same period last year. In dollar terms, they increased 6.4 per cent to $26.9 billion.

Key export items in April included knitwear (Rs93.4 billion), ready-made garments (Rs85 billion), bedwear (Rs54.9 billion), and rice (Rs57.9 billion combined, including basmati and other varieties). Other notable shipments were cotton cloth, towels, seafood, made-up articles, and petroleum products.

On the import side, Pakistan brought in goods worth Rs1.58 trillion ($5.61 billion) in April — a rise of 16.5 per cent from March and 16.9 per cent from April 2024. This shows a big increase in external purchases despite a weaker export performance.

Cumulatively, imports during July–April reached Rs13.46 trillion ($48.3 billion), up 5.8 per cent in rupee terms and 7.6 per cent in dollar terms compared to the same period last year.

Top imports in April included crude oil (Rs151.5 billion), electrical machinery (Rs150.2 billion), refined petroleum products (Rs139.1 billion), palm oil (Rs83.7 billion), and LNG (Rs66 billion). Other major items were iron and steel, plastic raw materials, raw cotton, scrap metal, and assembled motor vehicle kits.

The widening gap between exports and imports puts added pressure on Pakistan’s external accounts, at a time when the country is seeking to stabilise its economy and secure further support from the International Monetary Fund.

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