In the first five months of fiscal year 2024-25, Pakistan’s export proceeds stood at $13.69 billion in July-November against $12.16 billion over the corresponding months of last year, showing an increase of 12.57%.
Pakistan’s merchandise exports slowed in November and fell into the single digit due to a reduction in international demand. The exports grew 11.83% in July, followed by 16% in August, 13.52% in September, 10.64% in October and 8.98% in November.
As per the Pakistan Bureau of Statistics (PBS), imports grew 3.90% to $22.34 billion in July-November FY25 from $21.50 billion over the last year. The imports dipped 3.83% in November to $4.39 billion from $4.52 billion in the same month last year.
Pakistan’s export area showed promising development during the initial four months of the fiscal year 2024-25, reflecting a positive pattern in the nation’s trade performance. The exports during July-October 2024 added up to Rs 3,029 billion, denoting a 9.57% expansion contrasted with Rs 2,765 billion in the related time of the earlier year. This notable rise demonstrates strength and potential in key export areas despite economic challenges.
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On a month-on-month premise, the exports in October 2024 expanded by 4.97 percent when contrasted with the products of Rs 789,220 million in September 2024.
The main commodities of exports during October 2024 were knitwear (Rs 136,359 million), readymade garments (Rs 100,547 million), rice and others (Rs 81,544 million), bedwear (Rs 76,281 million), cotton cloth (Rs 43,251 million), towels (Rs 26,419 million), oil seeds, nuts, and kernels (Rs 26,289 million), made-up articles (excl. towels and bedwear) (Rs 20,198 million), basmati rice (Rs 19,064 million), and cotton yarn (Rs 16,433 million).
Then again, imports during July-October, 2024 (FY2024-25) totaled Rs. 4,999,923 million as against Rs. 4,891,055 million during the compared time of last year, showing an increment of 2.23%.
Imports into Pakistan during October 2024 added up to Rs 1,274,823 million as against Rs 1,295,455 million in September 2024 and Rs 1,363,293 million during October 2023, appearing a decrease of 1.59% over September 2024 and of 6.49% over October 2023.
The commodities of imports during October 2024 were oil-based (Rs 110,620 million), petrol rough (Rs 85,050 million), flammable gas liquified (Rs 77,451 million), palm oil (Rs 76,730 million), plastic materials (Rs 62,643 million), iron and steel (Rs 57,890 million), electrical hardware and mechanical assembly (Rs 50,421 million), cell phones (Rs 48,408 million), manure fabricated (Rs 32,568 million), and iron and steel scrap (Rs 28,200 million).