ISLAMABAD, July 3 (Xinhua) -- Pakistan's exports rose by 4.67 percent year-on-year during the fiscal year 2024-25 to 32.11 billion U.S. dollars, up from 30.68 billion dollars in the previous year, official data showed on Wednesday.

According to the Pakistan Bureau of Statistics (PBS), exports in local currency terms stood at 8.97 trillion Pakistani rupees between July 2024 and June 2025, a 3.38 percent increase from 8.67 trillion rupees in fiscal 2023-24.

The positive growth came despite a month-on-month decline in exports in June 2025, which fell by 4.79 percent to 2.54 billion dollars compared to 2.67 billion dollars in May. Imports also declined by 7.08 percent during the same month, narrowing the monthly trade deficit by 9.47 percent to 2.32 billion dollars.

On a year-on-year basis, exports in June 2025 remained almost flat, declining slightly by 0.59 percent compared to June 2024. Imports in June fell by 1.97 percent year-on-year, helping reduce the trade deficit by 3.45 percent over the same period.

Despite the export growth, the annual trade gap widened as imports grew at a faster pace. Total imports for fiscal 2024-25 stood at 58.38 billion dollars, a 6.57 percent increase from the previous year's 54.78 billion dollars.

Consequently, the annual trade deficit expanded to 26.27 billion dollars, up from 24.10 billion dollars in fiscal 2023-24, an increase of nine percent.

Analysts attributed the export growth to improved performance in sectors like textiles, rice, and other value-added goods, along with a relatively stable exchange rate and increased demand from key markets.

The PBS noted that the data remains provisional, pending the inclusion of additional customs records from the Federal Board of Revenue. ■