ISLAMABAD: Pakistan’s goods trade deficit widened nearly 32.8 percent year-on-year in November 2025 to $2.855 billion, official data showed Tuesday, as imports jumped and exports slipped.
Data released by the Pakistan Bureau of Statistics (PBS) showed imports surged 5.4 percent to $5.25 billion, while exports fell 15.35 percent to $2.398 billion in November over the same month of last year. The gap, though still huge, was 11.86 percent narrower than October’s deficit of $3.24 billion.
During the first five months (July-November) of the ongoing fiscal year, the trade gap ballooned 37.2 percent year-on-year to $15.469 billion. Imports during this period climbed 13.26 percent to $28.3 billion, while exports slipped 6.4 percent to $12.84 billion.
Economists say high domestic interest rates have hampered export competitiveness, with businesses facing tight credit conditions as banks prioritise investment in government securities over private sector lending.
The PBS data however interestingly showed the services trade deficit reducing 1.9 percent in October 2025, to $224.8 million, compared with $229.2 million a year earlier. Services exports rose 17.6 percent to $826 million, while imports edged up 12.8 percent to $1.05 billion.
In four months (July-October) of the current fiscal, the services exports increased by 15.95pc to $3.03 billion and imports also up by 12pc to $4.195 billion. The deficit during this period increased by 2.8 per cent to $1.16 billion over the deficit of $1.129 billion in last fiscal.
In the last fiscal year (FY25), the services trade deficit had narrowed 15.8 percent to $2.62 billion, driven by a 9.2 percent rise in services exports to $8.4 billion, compared with a modest 2 percent increase in imports to $11 billion.
