Trade deficit jumps 44% as imports outpace exports in July

ISLAMABAD: Pakistan’s trade deficit ballooned 44 percent in July 2025 as imports jumped at nearly double the pace of exports, official data showed Wednesday, highlighting renewed pressure on the country’s external balance at the start of the new fiscal year.

Exports climbed 16.9 percent year-on-year to $2.7 billion in July, up 8.9 percent from June, according to the Pakistan Bureau of Statistics (PBS). Imports, however, surged 29.3 percent from a year earlier to $5.4 billion and 12.4 percent month-on-month, swelling the monthly trade gap to $2.75 billion from $1.91 billion a year earlier and $2.37 billion in June.

For the fiscal year 2024-25, the overall trade deficit grew 9.3 percent to $26.35 billion, as exports rose 4.5 percent to $32 billion while imports climbed 6.6 percent to $58.4 billion.

The PBS also reported the services trade performance data for July-June 2024-25. According to the trade statistics for international services during this period, local companies imported more services than they exported. The trade deficit in services witnessed a decline of 15.84pc, reaching $2.62 billion in FY25 compared to $3.1 billion in FY24.

In FY25, the economy hired the services of foreign companies for $11 billion and exported services abroad for $8.4 billion. Whereas, in FY24, the country’s services exports were recorded at $7.68 billion, and imports stood at $10.8 billion, representing an increase of 9.23 percent in services exports and a 2.01 percent increase in imports.