In the first month of the new fiscal year (FY25), Pakistan’s trade deficit surged by nearly 20 percent on a year-on-year basis. According to the Pakistan Bureau of Statistics (PBS), the country recorded a trade deficit of $1.948 billion in July 2024, marking a 19.7 percent increase compared to the $1.627 billion reported in the same month of FY24.
On a month-on-month basis, the trade deficit in July 2024 decreased by 19 percent, falling from $2.406 billion reported in June 2024. Despite the year-on-year increase, the July 2024 trade deficit is the lowest in five months, as noted by JS Global Capital.
Pakistan’s Trade Deficit Expands by Almost 20% in July
In July 2024, exports rose by 11.8 percent year-on-year but declined by 9.8 percent month-on-month, totaling $2.308 billion. Meanwhile, imports increased by 15.3 percent year-on-year but decreased by 14.3 percent month-on-month, amounting to $4.256 billion.
