Pakistan’s trade deficit surged by nearly 20 percent in the first month of the new fiscal year (FY25), July 2024, on a year-on-year basis. 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 from the $1.627 billion reported in the same month of FY24.
However, on a month-on-month basis, the trade deficit decreased by 19 percent in July 2024 compared to the $2.406 billion deficit reported in June 2024. This reduction marks the trade deficit in July 2024 as the lowest in five months, according to JS Global Capital.
During July 2024, exports rose 11.8 percent year-on-year, reaching $2.308 billion. However, they slipped 9.8 percent month-on-month. Imports also saw an increase of 15.3 percent year-on-year, while decreasing 14.3 percent month-on-month, standing at $4.256 billion. These fluctuations underscore the ongoing challenges in balancing trade and managing economic stability.