Pakistan Trade Deficit Widens in September

Pakistan recorded a trade deficit of PKR 988.4 billion in September 2026, widening from PKR 945.1 billion a year earlier and from PKR 916.1 billion in the previous month. The September gap is equivalent to USD 3.56 billion. On a year-on-year basis, exports rose 15.8% to PKR 815.1 billion, outpaced in absolute terms by imports, which climbed 9.4% to PKR 1,803.5 billion. Over the July–September 2026 period, the first quarter of the 2026-27 fiscal year, shipments increased 8.8% to PKR 2,338.9 billion while purchases advanced 11.2% to PKR 5,343.1 billion, widening the cumulative trade deficit by 13.2% to PKR 3,004.2 billion (USD 10.79 billion).

Pakistan recorded a trade deficit of PKR 1,263.2 billion in June 2026, widening from PKR 815.4 billion a year earlier and deteriorating sharply from PKR 781.2 billion in the previous month. Imports rose 24.4% year-on-year to PKR 1,886.3 billion, driven largely by a 57.6% increase in crude petroleum purchases to PKR 195.5 billion, highlighting the country's continued reliance on imported energy. Meanwhile, exports fell 11.1% to PKR 623.1 billion, weighed down by a 37.9% decline in rice shipments and slower growth in other key exports, including knitwear, bed wear, and cotton cloth. Over the July 2025–June 2026 fiscal year, imports increased 8.5% while exports declined 5.6%, widening the trade deficit 22.3% to PKR 11,098.3 billion.

Pakistan recorded a trade deficit of PKR 721.59 billion in May 2026, narrowing from PKR 842.49 billion a year earlier and easing significantly from a record shortfall of PKR 1,191.9 billion in the previous month. The May gap is equivalent to USD 2.58 billion. On a year-on-year basis, exports edged up 0.2% to PKR 753.7 billion, while imports fell 7.5% to PKR 1,475.3 billion. In contrast, April saw imports surge to a record PKR 1,880 billion, driven in part by higher global oil prices linked to tensions with Iran, underscoring Pakistan’s continued reliance on imported energy. Over the July 2025–May 2026 period, exports declined 5%, while imports increased 6.7%, widening the cumulative trade deficit by 18.3% to PKR 9,775.3 billion.