Pakistan's Merchandise Export Up

Pakistan's merchandise export growth rose 13.45pc to $10.88 billion in the first four months of FY25, compared to $9.59 billion last year. Monthly export growth rates were 11.83pc in July, 16% in August, 13.52pc in September, and 10.64% in October.

Meanwhile, imports increased by 5.17pc to $17.85 billion in July-October FY25, up from $16.97 billion last year. The IMF and government have adjusted the import forecast for FY25 to approximately $57.2–$57.3 billion, down from an earlier projection of $60.5 billion.

The trade deficit narrowed by 5.59pcto $6.97 billion during this period (compared to $7.38 billion last year). The IMF and government have adjusted the import forecast for FY25 to approximately $57.2–$57.3 billion, down from an earlier projection of $60.5 billion.

Key Trade Indicators for October:

- Exports: $2.97 billion (vs. $2.68 billion last year); Month-on-month growth: 4.90pc.

- Imports: Dropped by 8.02pc to $4.47 billion (vs. $4.86 billion last year); Month-on-month decline: 3.33pc.

- Deficit: Decreased 31.09pc to $1.49 billion (vs. $2.17 billion last year).

FBR Refunds:

- A total of Rs169 billion was issued in the first four months, up 6.28pc from last year.

- October Refunds: Rs23 billion (down from Rs30 billion last year).

- Pending sales tax refunds of Rs32 billion are to be disbursed on Nov 1, according to official sources.

Annual Export & Import Stats for FY24:

- Exports: Increased 10.5pc to $30.64 billion.

- Imports: Decreased 0.84pc to $54.73 billion.

- Trade Deficit: Contracted to $24.08 billion from $27.47 billion in the previous year.

This trend comes as international buyers redirected orders to Pakistan from Bangladesh and China, particularly in the clothing sector, benefiting Pakistani exporters.