Pakistan’s Trade Deficit Soars 46% in September 2025

Pakistan’s trade deficit widened sharply in September 2025, hitting US$3.3 billion, a 46% year-on-year increase, raising fresh concerns for the economy. According to data from the Pakistan Bureau of Statistics (PBS), the deficit also grew 16% compared to August 2025, reflecting the dual challenge of falling exports and rising imports.

The trade deficit has long been one of Pakistan’s most pressing economic issues, directly impacting foreign reserves and currency stability. In FY26’s first quarter (July–September 2025), the cumulative deficit has already reached US$9.4 billion, compared to US$7.0 billion in the same period last year — a 33% surge.

Trade Performance Snapshot – September 2025

Exports slipped by 12% YoY to US$2.5 billion, a fall of US$332 million compared to September 2024, though there was a modest 4% month-on-month increase. Imports, however, surged 14% YoY to US$5.8 billion, adding US$517 million more than August 2025.

Economists warn the growing gap between exports and imports could strain Pakistan’s balance of payments. “A trade deficit of this magnitude will inevitably create pressure on reserves and complicate economic recovery efforts,” one analyst noted.