Pakistan’s trade deficit widens by 20.4 per cent in September as imports rise

ISLAMABAD: Pakistan’s trade deficit saw a significant rise of 20.4 per cent in September 2024, reaching $1.78 billion compared to $1.48 billion during the same month last year, according to the Pakistan Bureau of Statistics (PBS).

On a month-to-month basis, the trade deficit grew by 1.9 per cent from $1.75 billion recorded in August 2024.

In the first quarter of fiscal year 2023-24, the cumulative trade deficit increased by 4.2 per cent to $5.44 billion, compared to $5.21 billion during the same period last year.

Exports in September rose by 13.5 per cent, reaching $2.81 billion, up from $2.47 billion in September 2023. Compared to August 2024, exports also saw a slight increase of 1.6 per cent, reaching $2.76 billion.

Meanwhile, imports during September increased by 16.1 per cent, reaching $4.59 billion compared to $3.95 billion in the same month last year. Compared to August 2024, imports rose by 1.7 per cent from $4.51 billion.

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