Pakistan's goods exports reach $26.86bn after over 6% surge

• Trade deficit surge to 55% on month-over-month basis. 
• Services exports grow by 9.7%; imports climb by 8.74%.
• Country reports current account surplus of $1.2bn in March.

ISLAMABAD: Amid the government's ongoing efforts to stabilise the economic indicators, the country's goods exports rose 6.25%year-on-year to $26.86 billion in the first 10 months of fiscal year 2024-25, The News reported on Saturday.

However, the figures released by the Pakistan Bureau of Statistics (PBS) have revealed a sharp downturn, with April exports falling 8.93% from a year earlier and 19 per cent from the previous month.

Meanwhile, imports during the July-April period rose 7.37% to $48.2 billion, driven by higher demand for machinery, fuel, and raw materials. As a result, the trade deficit widened by 8.8% to $21.35 billion, deepening pressure on the country’s already fragile external account.

In April 2025 alone, imports surged 14.1% year-on-year to $5.53 billion, while exports dropped by 8.9% to $2.14 billion. The monthly trade deficit rose 35.8% to $3.39 billion, compared with $2.5 billion in April last year. According to brokerage house Topline Securities, the deficit in April 2025 is the highest monthly trade deficit in three years.

On a month-over-month basis, the trade deficit surged 55% compared to a deficit of $2.18 billion reported in March 2025. Exports declined 19% from March, while imports up 14.5%.

PBS data also showed that services exports grew 9.7% year-on-year to $6.24 billion during the first nine months of FY25, while services imports climbed 8.74% to $8.55 billion.

This resulted in a 6.27% expansion in the services trade deficit, which reached $2.31 billion. In March 2025, services exports climbed 4.9% to $743.3 million, while imports spiked 6.9% to $970.1 million against the same month of last year.

Despite the worsening trade balance, Pakistan’s external account remains resilient, thanks to strong remittance inflows. The country posted a record monthly current account surplus of $1.2 billion in March 2025, powered by all-time high remittances of $4.1 billion. Finance Minister Muhammad Aurangzeb said the current account is expected to stay in surplus throughout the fiscal year.

In March 2025, the country recorded its highest-ever monthly current account surplus of $1.2 billion. This was driven by an unprecedented surge in workers’ remittances, which reached an all-time high of $4.1 billion during the month.