Pakistan’s trade deficit climbed to $3.34 billion in September, according to the Pakistan Bureau of Statistics (PBS), with imports surging and exports declining, raising fears of further pressure on the rupee.
According to the PBS data, the deficit was 16.3% higher than August, when exports totaled $2.42 billion against $5.29 billion of imports. In September, imports increased by 10.53% to $5.84 billion while exports clocked in at $2.5 billion, a 3.64% increase.
Year-on-year, imports increased by 14% over last September’s $5.13 billion, while exports declined by 11.7% from $2.84 billion.
For the first quarter (July-September) of the ongoing fiscal year, the trade gap swelled to 32.9% year-on-year, clocking in at $9.37 billion against $7.1 billion in the same period last year. The quarter saw imports rise by 13.5% from $14.95 billion to $16.97 billion. At the same time, exports declined by 3.8% from $7.9 billion to $7.6 billion.
The trend of the widening trade deficit risks derailing efforts to shore up foreign reserves and maintain rupee stability. It could also cause issues for debt repayments, as the country remains on a $7 billion Extended Fund Facility with the International Monetary Fund.
Services sector
The PBS data showed that the services trade deficit had risen 21.9% in August 2025, climbing from $358 million in August 2024 to $437 million in August 2025. It said that services exports had risen 8.4% in 2025 to $672 million, but imports had increased by 13.4% to $1.11 billion.
In July-August 2025, the balance of trade in the services sector hiked by 16.94% year-on-year, growing from $604.79 million last year to $707.23 million this year.