Pakistan's exports grow by 12.57% in first five months of current fiscal year

Pakistan’s exports grew by 12.57% in the first five months of the ongoing financial year, while the trade deficit registered a substantial decrease. 

According to the figures released by the Pakistan Bureau of Statistics, Pakistan’s exports reached $13.69 billion from July to November 2024, marking an increase of $1.52 billion, compared to $12.17 billion during the same period last year. 

The official data showed that imports during this period registered a modest increase of 3.90%, amounting to $22.34 billion. Consequently, trade deficit for the five-month period shrank by 7.39%, dropping to $8.65 billion from $9.34 billion.

In November 2024, exports increased by 8.98% compared to November 2023, rising from $2.57 billion to $2.80 billion. However, compared to October 2023, exports experienced a decline of 5.97%, falling from $2.98 billion to $2.80 billion.

Imports in November 2024 stood at $4.39 billion, showing a 3.83% decline compared to October's $4.57 billion. As a result, the trade deficit in November increased slightly by 0.19% from $1.57 billion in October to $1.58 billion.

Nevertheless, the trade deficit in November saw an 18.60% year-on-year reduction compared to November 2023, falling from $1.95 billion to $1.58 billion.