Pakistan’s Trade Deficit Rises 23% to Nearly $28 Billion Amid Surge in Imports

Pakistan’s trade deficit has widened by 23% during the current fiscal year, reaching nearly $28 billion, according to the Pakistan Bureau of Statistics.

The report indicates that imports grew by 6.89% during the first nine months (July–March), with the total import volume reaching $50.65 billion.

Consumer demand remained strong, as Pakistanis spent Rs147 billion on tea during the nine-month period. Imports of food items increased by 15%, including higher purchases of milk, butter, dry fruits, and palm oil.

Additionally, mobile phone imports surged by 28%, with over Rs406 billion worth of smartphones imported. The transport sector also witnessed a significant 83% increase, reaching $2.9 billion.

However, imports of petroleum products and textiles declined. The petroleum import bill stood at $11 billion, while textile imports were recorded at $4.87 billion.

The data reflects changing consumption patterns and economic pressures impacting Pakistan’s external trade balance.