ISLAMABAD: Pakistan’s export sector has seen a significant boost in the first four months of the current fiscal year, achieving a 13.45 percent increase compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).
Exports from July to October of fiscal year 2024-25 reached $10.880 billion, up from $9.590 billion recorded during the same period in 2023-24.
The rise in exports highlights a strengthening of Pakistan’s trade potential amid government initiatives aimed at enhancing export growth and diversifying markets. The increase was driven by sectors such as textiles, pharmaceuticals, and food products, all of which have reported steady demand in international markets.
Similarly, imports also saw an upward trend, growing by 5.17 percent during the first four months. Imports rose from $16.977 billion in the previous year to $17.854 billion in the current fiscal year. The slight increase in imports, attributed largely to essential goods and raw materials for industrial growth.
This combination of export growth and controlled import increase contributed to a decrease in Pakistan’s trade deficit. For the July-October period, the trade deficit narrowed by 5.59 percent, settling at $6.974 billion compared to $7.387 billion in the previous year. The decrease in the trade gap is seen as a positive indicator of economic resilience as the government seeks to balance exports and imports to reduce fiscal pressures.
Economic analysts view this export growth as encouraging, especially considering efforts to stabilize foreign reserves and reduce reliance on imports. However, they have called for sustained reforms to support further export competitiveness and enhance the manufacturing sector’s contribution to the country’s trade balance.
