By Moaaz Manzoor

Pakistan’s trade deficit stood at $2.839 billion in March 2026, as exports declined on both a monthly and annual basis despite a moderation in imports.

According to the data from the Pakistan Bureau of Statistics (PBS) available with Wealth Pakistan, exports in March 2026 amounted to $2.275 billion, slightly down from $2.276 billion in February—a marginal 0.04% month-on-month decline, and were 13.99% lower than the $2.645 billion in March 2025.

In rupee terms, exports during the period stood at Rs635.5 billion, compared to Rs636.6 billion in February 2026 and Rs740.8 billion in March last year, indicating a decline of 0.17% over the previous month and 14.21% year-on-year.

Cumulatively, exports during July–March FY2025-26 totaled $22.742 billion, down from $24.718 billion in the corresponding period of last year, registering a contraction of 7.99%. In rupee terms, exports declined by 7.14% to Rs6,392 billion as against Rs6,884 billion during the period under review.

On the import side, Pakistan’s import bill during March 2026 stood at $5.114 billion, down 3.33% from $5.290 billion in February. Imports also decreased by 3.11% year-on-year compared to $5.278 billion recorded in March 2025.

In rupee terms, imports declined to Rs1,430.3 billion from Rs1,481.3 billion in February and Rs1,478.4 billion in March last year, showing a decrease of 3.44% month-on-month and 3.25% year-on-year.

For the cumulative period, imports during July–March FY2025-26 rose to $50.655 billion, compared to $47.388 billion last year, registering an increase of 6.89%. In rupee terms, imports grew by 7.98% to Rs14,254.5 billion.

As a result, the trade deficit for March 2026 stood at $2.839 billion, while in rupee terms it was recorded at Rs794.8 billion. On a cumulative basis, the trade gap during July–March FY2025-26 widened to $27.913 billion, equivalent to Rs7,861.5 billion.

Sector-wise, exports remained concentrated in textiles, with knitwear contributing Rs92.4 billion, followed by readymade garments at Rs84.1 billion and bed wear at Rs67.0 billion. Other notable export items included rice (other varieties) at Rs43.1 billion, cotton cloth at Rs40.2 billion, and towels at Rs25.3 billion.

On the import side, petroleum-related products dominated the import bill, with crude oil imports recorded at Rs181.0 billion and petroleum products at Rs116.1 billion, followed by palm oil at Rs80.4 billion and electrical machinery at Rs66.2 billion.

The latest data indicates that while import compression provided some relief, continued decline in exports remains a key challenge for narrowing the trade deficit.

Credit: INP-WealthPk