Pakistan’s exports rise 13.52 per cent in September

ISLAMABAD: In September, Pakistan’s export sector show robust growth, with exports increasing by 13.52 per cent to reach $2.81 billion, up from $2.47 billion recorded in the same month last year.

The uptick reflects a positive trend in the country’s trade dynamics, hinting at a potential recovery in key export markets.

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Meanwhile, imports also rose significantly during the same period, climbing 16 per cent to $4.59 billion from $3.95 billion in September 2023; the increase in imports indicates heightened demand for foreign goods.

Over the first three months of the fiscal year 2024-2025, Pakistan’s total exports reached $7.88 billion, marking a 14 per cent increase compared to the $6.90 billion during the same period last year.

The consistent growth in exports is indicative of a strengthening trade position, as the country seeks to improve its presence in international markets.

However, the imports during during the same three-month period amounted to $13.31 billion, reflecting a10 per cent increase from $12.12 billion in the previous fiscal year’s third quarter. The rise in imports suggests that domestic demand is outpacing the export growth, which will have a negative impact on the country’s trade balance.

The trade deficit for the fiscal year 2024-25 has widened to $5.44 billion, a 4.2 per cent increase from the $5.21 billion defect recorded during the same period last year.

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The growing trade gap sheds light on the challenges Pakistan faces in balancing its trade, as the increase in import continues to outstrip the export growth.

While the rise in exports is a positive indicator for the country’s economy, the increase in imports and the expanding trade deficit should alarm the government, who is busy projecting a rosy picture of the economy, especially given the current inflation haunting the 240 million citizenry.