Pakistan’s foreign exchange reserves stand at US$ 16.6bn

KARACHI: Pakistan’s total foreign exchange reserves stood at US$16.6 billion during the week ended on May 30, ARY News reported on Thursday, citing the State Bank of Pakistan (SBP).

Pakistan’s reserves held by the SBP decreased by US$ 7 million to reach US$ 11.51 billion during the same period, the central bank said in a statement.

Pakistan’s net foreign reserves held by commercial banks stood at US$5.09 billion.

“During the week ended on 09-May-2025, SBP reserves increased by US$ 71 million to US$ 10,403.1 million,” the SBP said in a statement said.

Earlier, with a weekly gain of $70 million last week, SBP-held reserves were at $11.52 billion as of May 23.

Earlier, the Pakistan Bureau of Statistics (PBS) has released the latest trade data, showing a notable improvement in monthly figures while the cumulative trade balance over 11 months reflects a widening deficit.

According to PBS, exports in May rose by 17.4 per cent, reaching $2.6 billion, indicating a strong monthly performance. Imports, on the other hand, declined by 7.6 per cent, totaling $5.2 billion for the month.

As a result, Pakistan’s trade deficit in May narrowed by 23.47 per cent, standing at $2.6 billion.

However, the 11-month data paints a different picture. From July to May, Pakistan’s exports increased by 4.7 per cent to $29.445 billion.

Imports during the same period climbed by 7.3 per cent to $53.450 billion. Consequently, the cumulative trade deficit widened by 10.6 per cent, reaching $24 billion over the 11-month span.