Pakistan’s Trade Deficit Soars 35% in December 2024 as Imports Hit 27-Month High

Pakistan’s trade deficit widened by 35 percent year-on-year (YoY) in December 2024 to $2.444 billion as compared to a deficit of $1.813 billion recorded in the same month last year, according to data released by the Pakistan Bureau of Statistics (PBS). Exports were largely stagnant, posting a 1 percent increase and stood at $2.841 billion in December 2024 when compared to $2.882 billion during the same month of last fiscal year. Imports registered 14 percent growth and stood at $5.285 billion in December 2024 when compared to $4.635 billion during the same month of last fiscal year. The import figure for the month is a 27-month high. On monthly basis, trade deficit increased by 47 percent in December 2024 compared to a deficit of $1.667 billion recorded in November 2024. Exports in December 2024 were marginally above exports of $2.833 billion in November 2024. Imports rose by 17 percent in December 2024 compared to $4.500 billion in November 2024. The trade deficit was stable during the first six months of the current fiscal year (FY25) and stood at $11.172 billion compared to $11.152 billion during the same period of last fiscal year. The country’s exports increased by 11 percent during the first six months (July-November) of FY25 and stood at $16.561 billion compared to $14.985 billion during the same period of FY24. The imports were up 6 percent and stood at $27.733 billion during the first six months of FY25 compared to $26.137 billion during the same period of FY24.