According to data from the Pakistan Bureau of Statistics, Pakistan’s exports have witnessed a significant boost in the first quarter of the financial year 2024, with a 14.1 per cent increase compared to last year.
From July to September 2024, exports reached $7.87 billion, up from $6.9 billion in 2023, marking an impressive $974 million raise.
Pakistan’s export increases significantly
Moreover, in September 2024 exports grew by 13.52 per cent, reaching $2.85 billion, compared to $2.47 billion in September 2023. However, despite this growth, the trade deficit continues to widen, driven by a sharp 9.86 per cent increase in imports during the same period, a total of $13.31 billion.
Read More: Gold price increases by Rs600 per tola
The trade deficit for the first quarter of FY2024 rose to $5.43 billion, a 4.24 per cent increase year-on-year. In September 2024, the monthly trade deficit surged by 20.35 per cent, reaching $1.78 billion.
Furthermore, the rising trade deficit highlights Pakistan’s ongoing struggle to balance its trade position.
