Pakistan’s trade deficit shrank by 18.60% year-on-year (YoY) in November 2024, reaching $1.589 billion, compared to $1.952 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS).

The improvement in the trade balance was driven by an 8.98% growth in exports, which stood at $2.804 billion in November 2024, up from $2.573 billion in November 2023. Meanwhile, imports declined by 2.92%, falling to $4.393 billion from $4.525 billion during the same period last year.

Month-on-Month Performance
On a month-on-month (MoM) basis, the trade deficit widened slightly by 0.19%, increasing from $1.586 billion in October 2024 to $1.589 billion in November 2024.

Exports in November 2024 declined by 5.97% compared to October 2024, falling from $2.982 billion to $2.804 billion. Imports also saw a decrease of 3.83%, dropping from $4.568 billion in October 2024 to $4.393 billion in November 2024.

Five-Month Performance (July-November FY25)
During the first five months of the current fiscal year (FY25), the trade deficit narrowed by 7.39%, standing at $8.651 billion compared to $9.341 billion during the same period last fiscal year.

Exports during this period showed significant growth, increasing by 12.57% to $13.691 billion, up from $12.162 billion in the corresponding period of FY24. However, imports also rose by 3.90%, reaching $22.342 billion compared to $21.503 billion during the same period last year.