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Pakistan’s November Trade Gap Narrows Month to Month, Widens From Last Year

Export weakness alongside resilient import demand pushed the five-month shortfall to $15.47 billion.

Overview

  • PBS reported a November 2025 trade deficit of $2.855 billion, nearly 12% lower than October’s $3.24 billion but about 33% higher than November 2024’s $2.15 billion.
  • Exports totaled $2.398 billion, down 16% from October and roughly 15% year on year, with officials citing steep declines in food exports and a 46% fall in rice.
  • Imports reached about $5.25 billion, dropping from October but roughly 5% above a year earlier, marking a fifth consecutive month above $5 billion.
  • For July–November FY26, the deficit widened to about $15.47 billion, up roughly 37% from a year earlier, as exports slipped to $12.84 billion and imports rose to $28.3 billion.
  • Pakistan’s current account deficit for July–October FY26 climbed 256% to $733 million from $206 million a year earlier, highlighting mounting external-account pressures.