ISLAMABAD: Pakis­t­an trade imbalance with the Middle East widened 35.5 per cent to $1.081 billion in the first month of 2024-25 from $797.78 million over the same month last year ow­ing to a rise in petroleum imports from the region.

The trade gap narrowed significantly in FY24. Still, according to data compiled by the State Bank of Paki­stan, the rising trade deficit with the region will concern policymakers.

In FY24, the imbalance with the Mid­dle East narrowed to $13.014bn, a dec­line of 20.47pc from $16.365bn over the preceding year. This was mainly due to lower petroleum imports from the region.

Pakistan’s exports to the Middle East rose 49.08pc to $302.98m in July from $203.22m over the same mo­nth last year.

In FY24, the exports to the region gre­w 35.23pc to $3.155bn compared to $2.33bn in the corresponding period last year.

At the same time, Paki­stan’s imports from the Middle East also saw an increase of 38.26pc to $1.384bn in July 2024 from $1.001bn over the same month last year.

In FY24, the imports declined 13.53pc to $16.16bn compared to $18.69bn in the same period last year.

Published in Dawn, September 5th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Errant ECP
Updated 22 Jan, 2025

Errant ECP

THE ECP has once again earned a detailed reprimand from the Supreme Court. That it still refuses to correct course is ominous
Fast-tracking M6
Updated 22 Jan, 2025

Fast-tracking M6

GRAND infrastructure projects in Pakistan often progress at the pace of a bullock cart rather than a bullet train....
Gwadar airport
Updated 22 Jan, 2025

Gwadar airport

THE air connectivity established by the inauguration of PIA flights between Karachi and Gwadar is a major step...
Trump 2.0
Updated 21 Jan, 2025

Trump 2.0

Few have forgotten how disruptive Trump could be as president. There has been little indication that his 2nd term will be any different.
GB’s status
21 Jan, 2025

GB’s status

THE demand raised by the people of Gilgit-Baltistan for constitutional clarity and provisional provincial status is...
Panda bond
Updated 21 Jan, 2025

Panda bond

ISLAMABAD’S plans to raise $200m from China’s capital markets through the inaugural issue of a Panda bond this...