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Pakistan’s Trade Deficit Shrinks by 18.6% in November 2024, PBS Reports
According to data released by the Pakistan Bureau of Statistics (PBS), Pakistan’s trade deficit dropped by 18.6% year-on-year (YoY) in November 2024, declining to $1.589 billion from $1.952 billion recorded in the same month last year.
Key Highlights for November 2024
- Exports: Increased by 8.98% to $2.804 billion, compared to $2.573 billion in November 2023.
- Imports: Decreased by 2.92% to $4.393 billion, down from $4.525 billion during the same period last year.
Five-Month Performance Overview (July-November FY25)
- Trade Deficit: Reduced by 7.39% to $8.651 billion, compared to $9.341 billion in the same period of FY24.
- Exports: Rose by 12.57% to $13.691 billion, up from $12.162 billion in the corresponding period of FY24.
- Imports: Increased by 3.90% to $22.342 billion, compared to $21.503 billion in the previous fiscal year.
Month-on-Month Analysis (October vs. November 2024)
- The trade deficit in November edged up by 0.19%, reaching $1.589 billion, slightly higher than $1.586 billion in October 2024.
- Exports: Fell by 5.97% to $2.804 billion, compared to $2.982 billion in October.
- Imports: Dropped by 3.83% to $4.393 billion, down from $4.568 billion in the previous month.
The decline in the trade deficit reflects improved export performance and restrained imports, contributing to a more balanced trade outlook for Pakistan.
