Pakistan’s Trade Deficit Falls to 11-Month Low As Exports Surge

Pakistan’s trade deficit fell by over 20 percent in August 2024 to settle at an 11-month low of $1.675 billion. According to data issued by the Pakistan Bureau of Statistics (PBS) on Tuesday, the country’s trade deficit fell by 20.5 percent in August 2024 from trade deficit of $2.108 billion reported in August 2023. The trade deficit also fell by 12 percent compared to $1.904 billion reported in July 2024. Exports during August 2024 stood at $2.743 billion, up 15.9 percent over the same month of the previous year while going up by 18.9 percent over the previous month. Imports went down by 1.3 percent in August 2024 and stood at $4.418 billion compared to imports of $4.474 billion in August 2023. On a month on month basis imports increased by 4.9 percent. The trade deficit during 2MFY25 stood at $3.735 billion, down 4.2 percent over trade deficit of $3.578 billion reported in 2MFY24.