Pakistan’s merchandise exports totaled $20.462 billion during July–February of the current fiscal year 2025–26, marking a 7.30 percent decline compared to $22.073 billion in the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.

At the same time, imports rose by 8.06 percent to $45.504 billion, up from $42.110 billion a year earlier. The widening gap pushed the trade deficit for the first eight months to $25.042 billion, an increase of 24.98 percent from $20.037 billion recorded in July–February 2024–25.

The latest PBS figures show that while exports declined year-on-year, imports continued to outpace export earnings, adding pressure to the country’s external balance.

On a year-on-year basis, exports in February 2026 fell by 8.76 percent to $2.272 billion, compared with $2.490 billion in February 2025. Imports during the month also edged down by 1.61 percent to $5.253 billion from $5.339 billion a year earlier.

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On a month-on-month basis, exports dropped by 25.63 percent from $3.055 billion in January 2026. Imports also declined by 9.51 percent compared with $5.805 billion recorded in January, the PBS reported.

The trade data reflects continued volatility in Pakistan’s external sector during the current fiscal year.