Pakistan’s goods exports posted a sharp acceleration in September 2026, rising 17.6 percent year-on-year to $2.94 billion from $2.50 billion in the same month of the previous year, according to provisional data from the Pakistan Bureau of Statistics shared by Adviser to the Finance Minister Khurram Shehzad. Exports also increased 16 percent month-on-month from $2.53 billion in August, with the September performance representing a notable step-up from the broader first-quarter trend and signalling that export momentum has strengthened as the new fiscal year has progressed.
During the first quarter of fiscal year 2026-27, covering July to September, Pakistan’s total goods exports reached $8.42 billion, up 10.8 percent compared with the same period a year earlier, representing approximately $825 million more in export earnings than the preceding year’s first quarter. The sectoral composition of the growth was broad-based, with agriculture and food exports increasing 23 percent year-on-year during the quarter, manufacturing, mining, and energy exports rising 17 percent, and textiles and apparel growing 6 percent. September’s month-specific performance was particularly strong in agriculture, where food and agri exports surged 62 percent year-on-year, while textile exports for September specifically increased 8.63 percent year-on-year to $1.799 billion, with textile exports for the July to September quarter reaching $5.14 billion compared with $4.83 billion in the same period last year.
The strong export performance coexists with a widening trade deficit that reflects equally robust import growth. Pakistan’s imports climbed to $6.49 billion in September 2026, an increase of more than 11 percent from $5.85 billion in September 2025, resulting in a monthly trade deficit of $3.56 billion, up 6.2 percent from the $3.35 billion deficit recorded in September 2025. For the first quarter as a whole, the trade deficit reached $10.79 billion, 15.1 percent wider than the $9.37 billion recorded in the same period of the previous fiscal year, with imports increasing 13.2 percent to $19.22 billion for the quarter. The widening deficit reflects a pattern that has been consistent throughout Pakistan’s recent economic trajectory, where import growth, driven by machinery, raw materials, and energy inputs needed for expanding industrial activity, tracks closely alongside export growth rather than decoupling in a way that would indicate structural trade balance improvement.
Shehzad described the sustained rise in exports as a positive development, noting that the country was exporting significantly more than a year ago and that momentum had accelerated in September despite regional challenges. He said the increase in exports was expected to contribute to higher foreign exchange earnings and strengthen Pakistan’s move toward an export-oriented economy, an ambition the government has repeatedly framed as central to achieving sustainable economic growth that is less dependent on external borrowing and more anchored in productive domestic capacity. Pakistan’s exports to China have been a notable contributor to the broader trend, with bilateral trade showing strong growth as the relationship between the two economies has deepened across agriculture, textiles, and manufacturing sectors. The Pakistan Bureau of Statistics noted that the September figures remain provisional and may be revised as additional customs records are incorporated into the final dataset.
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