In July 2024, the first month of the new fiscal year (FY25), Pakistan’s trade deficit surged by nearly 20 percent compared to the same period last year.
According to data released by the Pakistan Bureau of Statistics (PBS), the country posted a trade deficit of $1.948 billion in July 2024, up 19.7 percent over $1.627 billion reported in the same month of FY24.
However, on a month-on-month basis, the trade deficit was down 19 percent in July 2024 compared to the trade deficit of $2.406 billion reported in June 2024. The trade deficit in July 2024 is the lowest in five months according to JS Global Capital.
During July 2024, exports rose 11.8 on a year-on-year basis and slipped 9.8 percent month-on-month to stand at $2.308 billion.
Imports also rose by 15.3 on a year-on-year basis while going down 14.3 percent on a month-on-month basis to stand at $4.256 billion.
