Farooq Awan

Pakistan’s goods import bill increased sharply during the first five months of FY 2025-26, with cumulative imports rising to $28.313 billion during July–November FY26, compared with $24.998 billion in the same period of FY25, reflecting a 13.26% year-on-year increase, according to the Monthly Trade Report for November 2025 released by the Trade Development Authority of Pakistan (TDAP).

The rise in cumulative imports was also reflected in monthly data. TDAP figures show that goods imports in November FY26 stood at $5.25 billion, up from $4.98 billion in November FY25, marking a 5.42% increase on a year-on-year basis.

The higher import payments during July–November FY26 contrasted with the weaker performance of exports over the same period. While goods imports increased by $3.315 billion year-on-year during the five-month period, Pakistan’s goods exports declined 6.39% to $12.84 billion, compared with $13.72 billion in July–November FY25.

As a result of rising imports and falling exports, the goods trade deficit widened significantly. TDAP data show that the goods trade deficit during July–November FY26 expanded to $15.469 billion, compared with $11.277 billion in the corresponding period of the previous fiscal year, reflecting an increase of 37.17%.

On a monthly basis, the widening trend was also evident in November. The goods trade deficit in November FY26 stood at $2.855 billion, compared with $2.15 billion in November FY25, showing a 32.79% year-on-year increase, driven by higher imports and lower export receipts. The Monthly Trade Report categorises imports under aggregate goods imports, covering all merchandise brought into the country.

Credit: INP-WealthPk