ISLAMABAD: Pakistan’s exports surged by 14.11% in the first quarter (July-September) of the fiscal year 2024-25, totaling $7.875 billion, up from $6.901 billion during the same period in the previous fiscal year (2023-24), according to the latest trade data from the Pakistan Bureau of Statistics (PBS).

However, the country’s trade deficit expanded by 4.24% during this period, reaching $5.435 billion, compared to $5.214 billion in the same quarter of the last fiscal year. This widening deficit is attributed to a 9.86% increase in imports, which stood at $13.310 billion in Q1 FY25, up from $12.115 billion in the same period of FY24.

In September 2024 alone, Pakistan’s trade deficit widened by 20.35% year-on-year, hitting $1.780 billion compared to $1.479 billion in September 2023. Exports during the month grew 13.52% to $2.805 billion, while imports rose 16.08% to $4.585 billion.

On a monthly basis, the trade deficit in September increased by 1.89%, with exports rising by 1.56% to $2.805 billion and imports growing by 1.69% to $4.585 billion, compared to August 2024.