Pakistan’s overall balance of payments (BoP) recorded a deficit of $4.39 billion in September, compared with $118 million in August, as the current account shortfall widened amid rising import payments, according to State Bank of Pakistan (SBP) data.
During July-September, the BoP posted a deficit of $3.12 billion, reversing a surplus of $274 million in the same period last year. The figures reflect growing pressure on the country’s external account, largely driven by the widening merchandise trade gap.
Pakistan’s goods trade deficit increased 21.1% to $9.33 billion in the first quarter of fiscal year 2026-27, as imports expanded faster than exports. The imbalance added to pressure on the current account, which recorded a deficit of $874 million during the quarter, compared with $755 million a year earlier.
Goods imports rose 14.3% to $17.78 billion during July-September, up from $15.56 billion in the corresponding period last year. Meanwhile, goods exports grew 7.7% to $8.45 billion from $7.85 billion.
September brought some improvement in export performance, with goods exports climbing 15.5% year-on-year to $3.02 billion after declining 1.5% in August. However, imports grew more rapidly, increasing 22.7% to $6.17 billion from $5.03 billion a year earlier. As a result, the monthly goods trade deficit widened to $3.16 billion from $2.42 billion in September last year.
The services sector also recorded growth in both exports and imports during the first quarter. Services exports increased 22.8% to $2.72 billion from $2.21 billion a year earlier, supported by higher earnings from telecommunications, computer and information services.
Exports from these technology-related services reached $1.25 billion during July-September, compared with $1.06 billion in the same period last year. Other business services exports rose to $622 million from $486 million, while travel services exports more than doubled to $322 million from $157 million.
However, services imports also increased, reaching $3.55 billion against $3.05 billion a year earlier. Despite the rise in imports, the services trade deficit narrowed slightly to $831 million from $840 million in the corresponding period last year.
The latest figures indicate that stronger export earnings, particularly from goods and technology-related services, have yet to offset the impa
