ISLAMABAD: Data released by the Pakistan Bureau of Statistics (PBS) indicates that Pakistan’s trade deficit decreased by 18.60 per cent year-on-year (YoY) to $1.589 billion in November 2024, down from a deficit of $1.952 billion recorded in the same month of the previous year.
In November, exports rose by 8.98 per cent, reaching $2.804 billion, compared to $2.573 billion in November of the last fiscal year.
Conversely, imports fell by 2.92 per cent to $4.393 billion in November, compared to $4.525 billion during the same month of the previous fiscal year.
Five-Month Overview
During the first five months of the current fiscal year, the trade deficit narrowed by 7.39 per cent, totaling $8.651 billion, in contrast to $9.341 billion for the same period in the previous fiscal year.
Also read: Pakistan’s economy sees 2.52% growth in FY2024: PBS
In terms of domestic imports, there was a rise of 3.90 percent, reaching $22.342 billion, compared to $21.503 billion during the same timeframe last year.
Month-on-Month Analysis
On a month-to-month basis, the trade deficit saw a slight increase of 0.19 percent, standing at $1.589 billion in November, compared to a deficit of $1.586 billion in October 2024.
Exports in November experienced a decline of 5.97 percent, totaling $2.804 billion, down from $2.982 billion in October 2024. Imports also decreased by 3.83 percent in November 2024, amounting to $4.393 billion compared to $4.568 billion in October 2024.
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