📈 Trade Deficit Jumps 33% — Pakistan Records $2.86 B Gap in November 2025

New data from Pakistan Bureau of Statistics (PBS) shows that the country’s trade deficit surged by nearly 33% year-on-year in November 2025, reaching US$ 2.86 billion — up from US$ 2.15 billion in November 2024.

🔹 What the Numbers Show

• Exports in November 2025 totalled just US$ 2.39 billion, a drop of 15.4% compared to the same month last year.

• Imports, meanwhile, rose to US$ 5.25 billion, up over 5% from US$ 4.98 billion in November 2024.

📆 Short-Term Trend (MoM) & Fiscal-Year Outlook

• On a month-on-month basis, the trade deficit actually decreased ~12% compared with October 2025’s US$ 3.24 billion — reflecting modest drops in both exports and imports.

• Looking at the first five months of FY2025-26, the cumulative trade deficit ballooned to US$ 15.47 billion, up more than 37% from US$ 11.28 billion in the same period last year.

• Exports over this 5-month period shrank slightly (down ~6%), while imports rose by about 13%.

🧮 What This Means for the Economy

The widening gap underscores a troubling imbalance: as exports slump, Pakistan is importing more — putting intense pressure on foreign exchange reserves, worsening the external account, and adding to macroeconomic vulnerability.

If the trend continues, the country could face a sustained external-sector strain, which may force policymakers to revisit trade policy, import tariffs, and export incentives to help restore balance.