- Country’s rising exports supported by textile and rice industries, imports rise amid economic expansion
According to the latest Global Trade Update published by UN Trade and Development (UNCTAD), the global trade is set to reach a record $33 trillion in 2024. This $1 trillion increase, reflecting 3.3 percent yearly growth, highlights resilience in global trade despite persistent challenges.
Statistics analysed that robust growth in services trade, up 7 percent for the year, accounted for half of the expansion, while goods trade grew 2 percent but remained below its 2022 peak. It is recorded that developing states, traditionally strong drivers of global trade, faced headwinds in 2024, with imports contracting 1 percent and South-South trade falling by the same margin in the third quarter. In contrast, developed states led Q3 growth, with stable demand driving a 3 percent rise in imports and 2 percent in exports.
Despite these challenges, opportunities remain for developing economies to capitalize on high-growth sectors. ICT and apparel trade surged, with rises of 13 percent and 14 percent, respectively, in the third quarter 2024. This growth underscores the potential for diversification and entry into value-added industries. In 2025, stable global growth forecasts and easing inflation also present a chance to build resilience. UNCTAD also recorded that developing states to adopt targeted strategies that enhance trade diversification and invest in high-value sectors to mitigate risks.
Furthermore, the organization underscores that trade is a cornerstone of sustainable development. To capitalize on opportunities in this year, developing states require coordinated support to navigate uncertainty, reduce dependencies and strengthen global market links. As per the government of Pakistan, country’s external account has shown resilience over the past two years. The outlook for export growth in the coming years looks promising, driven by improved global trade conditions, renewed growth in trading partners, and enhanced global and domestic supply chains. Additionally, the anticipated import growth is expected to stimulate domestic economic activities. Remittances are also probable to rise significantly because of the improved economic situation in host countries. Furthermore, the government is committed to supporting the improved performance of the external sector and the restoration of reserves. Geopolitical factors, such as rising commodity prices, shipping disruptions, and tighter global financial conditions, pose downside risks to the external sector’s stability.
Exports
As per the provisional figures compiled by the Pakistan Bureau of Statistics (PBS), exports from Pakistan during January, 2025 amounted to Rs.822,732 million (provisional) as against Rs. 809,554 million in December, 2024 and Rs. 782,642 million during January, 2024 explaining a rise of 1.63 percent over December, 2024 and of 5.12 percent over January, 2024. In terms of US dollars, the exports in January, 2025 totaled $ 2,953 million (provisional) as against to $ 2,911 million in December, 2024 explaining a rise of 1.44 percent over December, 2024 and of 5.77 percent as against to $ 2,792 million in January, 2024.
Exports during July-January, 2024-2025 totaled Rs. 5,448,181 million (provisional) as against Rs.5,081,403 million during the same period of last year explaining a rise of 7.22 percent. In terms of US dollars, the exports during July- January, 2024-25 totaled $ 19,584 million (provisional) against $ 17,777 million during the same period of last year showing a rise of 10.16 percent. It is also recorded that the main commodities of exports during January, 2025 were Knitwear (Rs. 130,493 million), Readymade garments (Rs.110,618 million), Bed wear (Rs. 80,442 million), Rice others (Rs. 67,228 million), Cotton cloth (Rs. 45,995 million), Towels (Rs.28,413 million), Basmati Rice (Rs.21,674 million), Madeup articles (excl towels & bedwear) (Rs.20,749 million) Cotton yarn (Rs.18,139 million) and Sugar (Rs.17,927 million).
Imports
PBS also recorded that imports into Pakistan during January, 2025 amounted to Rs. 1,469,202 million (provisional) as compared to Rs. 1,490,150 million in December, 2024 and Rs. 1,333,136 million during January, 2024 explaining a decline of 1.41 percent over December, 2024 but a rise of 10.21 percent over January, 2024. In terms of US dollars, the imports in January, 2025 were totaled $ 5,273 million (provisional) as against to $ 5,358 million in December, 2024 showing a decline of 1.59 percent over December, 2024 but a rise of 10.87 percent as against to $ 4,756 million in January, 2024.
Furthermore, imports during July-January, 2024-25 totaled Rs. 9,202,815 million (provisional) as against Rs. 8,829,214 million during the same period of last year showing a rise of 4.23 percent. In terms of US dollars, the imports during July-January, 2024-25 totaled $ 33,079 million (provisional) as against $ 30,893 million during the same period of last year showing a rise of 7.08 percent. PBS also registered that the main commodities of imports during January, 2025 were Petroleum products (Rs.144,238 million), Petroleum crude (Rs.121,365 million), Palm oil (Rs. 96,059 million), Natural gas liquified (LNG) (Rs.87,295 million), Electrical machinery & apparatus (Rs.86,104 million), Plastic materials (Rs.64,902 million), Iron & steel (Rs.60,804 million), Mobile phones (Rs. 37,652 million), Raw cotton (Rs.34,554 million) and Petroleum gas, Liquified (LPG) (Rs. 29,498 million).