Pakistan’s trade deficit surged to US$3.3 billion in September 2025, reflecting a steep 46% year-on-year increase and a 16% rise from the previous month, according to figures released by the Pakistan Bureau of Statistics (PBS).
The widening gap stems from a dual setback: declining exports and accelerating imports.
Exports dropped 12% compared to September 2024, totaling US$2.5 billion. Although there was a modest 4% month-on-month improvement, the country still exported US$332 million less than it did during the same period last year.
Meanwhile, imports climbed to US$5.8 billion—up 14% YoY and 11% MoM—adding US$517 million more than August’s figures.
For the first quarter of FY26 (July–September 2025), the cumulative trade deficit has reached US$9.4 billion, a 33% increase from the US$7.0 billion recorded in the same quarter of FY25.
This growing disparity between exports and imports poses challenges for Pakistan’s economic stability, placing added strain on foreign exchange reserves and complicating efforts to manage fiscal balance.