Pakistan’s November Trade Deficit Jumps 33% as Imports Rise and Exports Fall

Pakistan’s trade deficit surged nearly 33% year on year to $2.86 billion in November 2025, driven by a sharp decline in exports and a rise in imports, according to the Pakistan Bureau of Statistics.

Exports dropped 15.4% to $2.39 billion compared to $2.83 billion in November 2024, while imports increased 5% to $5.25 billion from $4.98 billion a year earlier. On a month to month basis, the trade deficit narrowed slightly from $3.24 billion in October 2025 due to minor declines in both exports and imports.

Fiscal Year Trend

During the first five months of fiscal year 2025-26, the trade deficit widened over 37% to $15.47 billion from $11.28 billion in the same period last year. Exports fell 6% to $12.84 billion, while imports rose 13% to $28.3 billion, reflecting growing pressure on Pakistan’s external accounts.

Analysts warn that continued export slowdown and rising import bills could strain foreign exchange reserves and complicate economic recovery efforts.