Pakistan’s Trade Deficit Widens by 33% Amid Rising Imports

Pakistan’s trade deficit surged sharply in November, reaching $2.86 billion, marking a 33% increase compared to $2.15 billion in the same month last year, according to data from the Pakistan Bureau of Statistics. The widening gap reflects a combination of falling exports and rising imports, putting additional pressure on the country’s external account.

Exports in November fell 15.4% year-on-year, dropping to $2.39 billion from $2.83 billion previously, while imports rose 5% to $5.25 billion due to stronger domestic demand and higher global commodity prices. Despite the year-on-year increase, the month-on-month trend provided some relief as the deficit narrowed nearly 12% from October’s $3.24 billion, with both exports and imports showing a slight decline.

Looking at the cumulative figures for July to November, the trade deficit expanded over 37% to $15.47 billion, compared to $11.28 billion during the same period last year. Exports over this period fell by more than 6% to $12.84 billion, whereas imports surged 13% to $28.3 billion. The widening trade gap highlights growing pressure on Pakistan’s external balances and underscores the challenges facing the country’s trade and economic stability.