Pakistan’s merchandise exports dropped to $15.184 billion during the first half of the 2025–26 fiscal year (July–December), the Pakistan Bureau of Statistics (PBS) reported. This represents a decline of 8.7% compared to $16.631 billion in the same period last year.
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Meanwhile, imports increased by 11.28%, rising from $30.902 billion to $34.388 billion, resulting in a trade deficit of $19.204 billion. This marks a 34.57% increase from the $14.271 billion deficit recorded in July–December 2024–25, highlighting growing challenges in balancing the country’s external trade.
On a year-on-year basis, exports in December 2025 fell sharply by 20.41% to $2.317 billion compared to $2.911 billion in December 2024. Imports, however, increased slightly by 2% to $6.022 billion from $5.904 billion in the same month.
Month-on-month figures also show a decline in exports. November 2025 exports were recorded at $2.420 billion, meaning December saw a decrease of 4.26%. Imports, on the other hand, surged 13.49% from $5.306 billion in November 2025.
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The figures point to continued pressure on Pakistan’s trade balance amid rising import bills and declining export performance. Analysts warn that sustained deficits could strain foreign reserves and put pressure on the currency if remedial measures are not implemented. The PBS report underscores the need for policy interventions to boost exports and manage imports to stabilize the economy in the coming months.