Goods exports climb 6.25% to $26.86bn in 10 months

ISLAMABAD: Pakistan’s goods exports rose 6.25 per cent year-on-year to $26.86 billion in the first 10 months of fiscal year 2024-25, but monthly figures revealed a sharp downturn, with April exports falling 8.93 per cent from a year earlier and 19 per cent from the previous month, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.

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

In April 2025 alone, imports surged 14.1 per cent year-on-year to $5.53 billion, while exports dropped by 8.9 per cent to $2.14 billion. The monthly trade deficit rose 35.8 per cent 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 3 years.

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

PBS data also showed that services exports grew 9.7 per cent year-on-year to $6.24 billion during the first nine months of FY25, while services imports climbed 8.74 per cent to $8.55 billion. This resulted in a 6.27 per cent expansion in the services trade deficit, which reached $2.31 billion. In March 2025, services exports climbed 4.9 per cent to $743.3 million, while imports spiked 6.9 per cent 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 US$1.2 billion. This was driven by an unprecedented surge in workers’ remittances, which reached an all-time high of US$4.1 billion during the month.