{"version":"1","article":{"id":"pakistan-q1-trade-deficit-widens-2026","slug":"pakistan-q1-trade-deficit-widens-2026","language":"en","url":"https://haberpaper.com/en/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=en","title":"Pakistan’s first-quarter exports rise as merchandise trade gap widens","summary":"PBS reports July–September goods exports up 10.84% year on year, while imports rose 13.21% and the quarterly deficit widened 15.13%.","category":"finance","region":"world","topics":[],"published_at":"2026-10-04T18:20:06+03:00","modified_at":"2026-10-04T18:20:06+03:00","publication_basis":"publication-record","event_period":"2026-09","event_period_basis":"event-or-reference-period","sources":[{"name":"Pakistan Bureau of Statistics (PBS)","url":"https://www.pbs.gov.pk/wp-content/uploads/2026/10/Summary_September_2026.xlsx","publishedAt":"2026-10-02","checkedAt":"2026-10-04"},{"name":"Pakistan Bureau of Statistics, External Trade Statistics release index","url":"https://www.pbs.gov.pk/external-trade-statistics/","checkedAt":"2026-10-04"},{"name":"Associated Press of Pakistan (APP), reporting PBS first-quarter merchandise trade totals","url":"https://www.app.com.pk/business/exports-up-by-10-84-percent-to-8-4-billion-in-q1/","publishedAt":"2026-10-03","checkedAt":"2026-10-04"}],"translations":[{"language":"tr","url":"https://haberpaper.com/tr/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=tr"},{"language":"en","url":"https://haberpaper.com/en/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=en"},{"language":"ar","url":"https://haberpaper.com/ar/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=ar"},{"language":"fr","url":"https://haberpaper.com/fr/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=fr"},{"language":"es","url":"https://haberpaper.com/es/news/pakistan-q1-trade-deficit-widens-2026","api_url":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026?lang=es"}],"data_types":["metrics"],"data":{"version":1,"blocks":[{"id":"merchandise-trade","type":"metrics","title":{"tr":"Ticaret akışları ve değişim oranları","en":"Trade flows and change rates","ar":"تدفقات التجارة ومعدلات التغير","fr":"Flux commerciaux et taux de variation","es":"Flujos comerciales y tasas de variación"},"description":{"tr":"PBS’nin Temmuz–Eylül 2026 mal ticareti özeti ve Eylül aylık tablosu.","en":"PBS July–September 2026 merchandise-trade summary and September monthly table.","ar":"ملخص PBS لتجارة السلع في يوليو–سبتمبر 2026 وجدول سبتمبر الشهري.","fr":"Résumé PBS du commerce de marchandises de juillet-septembre 2026 et tableau mensuel de septembre.","es":"Resumen de comercio de mercancías de PBS de julio-septiembre de 2026 y tabla mensual de septiembre."},"methodology":{"tr":"PBS çalışma kitabı milyon ABD doları ölçeğindedir; bu bloktaki milyar değerler tam ölçek dönüşümüdür. Çeyrek için Temmuz başlangıcı açıkça gösterilir. Açıklar, negatif ticaret bakiyesinin pozitif büyüklüğü olarak verilmiştir. Değişim yüzdeleri kaynak tablodan alınmıştır. Eylül satırları (P) işaretlidir; PBS, Eylül DRS/FBR verisinin beklediğini not eder.","en":"The PBS workbook reports USD millions; billion values here are exact scale conversions. The quarter start is explicit. Deficits are positive magnitudes of the negative trade balance. Change rates are taken from the source table. September rows are marked (P); PBS notes that September DRS/FBR data were still awaited.","ar":"يعرض ملف PBS القيم بملايين الدولارات؛ والقيم بالمليارات هنا تحويل دقيق للمقياس. وتُحدد بداية الربع. ويُعرض العجز كمقدار موجب للرصيد التجاري السالب. نُقلت نسب التغير من الجدول. تحمل صفوف سبتمبر علامة (P)، ويشير PBS إلى انتظار بيانات DRS/FBR لشهر سبتمبر.","fr":"Le classeur du PBS présente les montants en millions de dollars ; les valeurs en milliards sont des conversions exactes d’échelle. Le début du trimestre est explicite. Les déficits sont les montants positifs des soldes commerciaux négatifs. Les taux viennent du tableau source. Les lignes de septembre portent « P » ; le PBS indique que les données DRS/FBR de septembre étaient attendues.","es":"El libro de PBS informa de millones de dólares; los valores en miles de millones son conversiones exactas de escala. Se indica el inicio del trimestre. Los déficits son magnitudes positivas del saldo comercial negativo. Las tasas proceden de la tabla fuente. Las filas de septiembre llevan «P»; PBS indica que aún esperaba los datos DRS/FBR de septiembre."},"sourceUrls":["https://www.pbs.gov.pk/wp-content/uploads/2026/10/Summary_September_2026.xlsx"],"updatedAt":"2026-10-04T14:46:02Z","items":[{"label":{"tr":"Mal ihracatı, Temmuz–Eylül 2026","en":"Merchandise exports, July–September 2026","ar":"صادرات السلع، يوليو–سبتمبر 2026","fr":"Exportations de marchandises, juillet-septembre 2026","es":"Exportaciones de mercancías, julio-septiembre de 2026"},"value":8.423,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-merchandise-exports","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2026-07"},{"label":{"tr":"Mal ihracatı, Temmuz–Eylül 2025","en":"Merchandise exports, July–September 2025","ar":"صادرات السلع، يوليو–سبتمبر 2025","fr":"Exportations de marchandises, juillet-septembre 2025","es":"Exportaciones de mercancías, julio-septiembre de 2025"},"value":7.599,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-quarterly-merchandise-exports","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2025-07"},{"label":{"tr":"Mal ithalatı, Temmuz–Eylül 2026","en":"Merchandise imports, July–September 2026","ar":"واردات السلع، يوليو–سبتمبر 2026","fr":"Importations de marchandises, juillet-septembre 2026","es":"Importaciones de mercancías, julio-septiembre de 2026"},"value":19.215,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-merchandise-imports","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2026-07"},{"label":{"tr":"Mal ithalatı, Temmuz–Eylül 2025","en":"Merchandise imports, July–September 2025","ar":"واردات السلع، يوليو–سبتمبر 2025","fr":"Importations de marchandises, juillet-septembre 2025","es":"Importaciones de mercancías, julio-septiembre de 2025"},"value":16.973,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-quarterly-merchandise-imports","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2025-07"},{"label":{"tr":"Mal ticareti açığının pozitif büyüklüğü, Temmuz–Eylül 2026","en":"Merchandise trade-deficit magnitude, July–September 2026","ar":"مقدار عجز تجارة السلع، يوليو–سبتمبر 2026","fr":"Montant du déficit de marchandises, juillet-septembre 2026","es":"Magnitud del déficit de mercancías, julio-septiembre de 2026"},"value":10.792,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-merchandise-deficit","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2026-07"},{"label":{"tr":"Mal ticareti açığının pozitif büyüklüğü, Temmuz–Eylül 2025","en":"Merchandise trade-deficit magnitude, July–September 2025","ar":"مقدار عجز تجارة السلع، يوليو–سبتمبر 2025","fr":"Montant du déficit de marchandises, juillet-septembre 2025","es":"Magnitud del déficit de mercancías, julio-septiembre de 2025"},"value":9.374,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-quarterly-merchandise-deficit","unitCode":"billion-usd","geography":"pakistan","frequency":"quarterly","aggregation":"flow","periodRole":"reference-period"},"periodStart":"2025-07"},{"label":{"tr":"İlk çeyrek mal ihracatının yıllık değişimi","en":"First-quarter merchandise export change year on year","ar":"التغير السنوي لصادرات السلع في الربع الأول","fr":"Variation annuelle des exportations de marchandises au premier trimestre","es":"Variación interanual de las exportaciones de mercancías del primer trimestre"},"value":10.84,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-export-growth-yoy","unitCode":"percent","geography":"pakistan","frequency":"quarterly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"İlk çeyrek mal ithalatının yıllık değişimi","en":"First-quarter merchandise import change year on year","ar":"التغير السنوي لواردات السلع في الربع الأول","fr":"Variation annuelle des importations de marchandises au premier trimestre","es":"Variación interanual de las importaciones de mercancías del primer trimestre"},"value":13.21,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-import-growth-yoy","unitCode":"percent","geography":"pakistan","frequency":"quarterly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"İlk çeyrek mal ticareti açığının yıllık değişimi","en":"First-quarter merchandise trade-deficit change year on year","ar":"التغير السنوي لعجز تجارة السلع في الربع الأول","fr":"Variation annuelle du déficit de marchandises au premier trimestre","es":"Variación interanual del déficit de mercancías du premier trimestre"},"value":15.13,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-quarterly-deficit-growth-yoy","unitCode":"percent","geography":"pakistan","frequency":"quarterly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2026 mal ihracatı","en":"September 2026 merchandise exports","ar":"سبتمبر 2026 صادرات السلع","fr":"septembre 2026 exportations de marchandises","es":"septiembre de 2026 exportaciones de mercancías"},"value":2.939,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-exports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Ağustos 2026 mal ihracatı","en":"August 2026 merchandise exports","ar":"أغسطس 2026 صادرات السلع","fr":"août 2026 exportations de marchandises","es":"agosto de 2026 exportaciones de mercancías"},"value":2.532,"unit":"billion USD","period":"2026-08","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-exports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2025 mal ihracatı","en":"September 2025 merchandise exports","ar":"سبتمبر 2025 صادرات السلع","fr":"septembre 2025 exportations de marchandises","es":"septiembre de 2025 exportaciones de mercancías"},"value":2.499,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-exports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"mal ihracatı aylık değişimi (Eylül/Ağustos 2026)","en":"Month-on-month change in merchandise exports (September/August 2026)","ar":"التغير الشهري صادرات السلع (سبتمبر/أغسطس 2026)","fr":"Variation mensuelle exportations de marchandises (septembre/août 2026)","es":"Variación mensual exportaciones de mercancías (septiembre/agosto de 2026)"},"value":16.07,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-exports-change-mom","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"mal ihracatı yıllık değişimi (Eylül 2026/Eylül 2025)","en":"Year-on-year change in merchandise exports (September 2026/September 2025)","ar":"التغير السنوي صادرات السلع (سبتمبر 2026/سبتمبر 2025)","fr":"Variation annuelle exportations de marchandises (septembre 2026/septembre 2025)","es":"Variación interanual exportaciones de mercancías (septiembre de 2026/septiembre de 2025)"},"value":17.61,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-exports-change-yoy","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2026 mal ithalatı","en":"September 2026 merchandise imports","ar":"سبتمبر 2026 واردات السلع","fr":"septembre 2026 importations de marchandises","es":"septiembre de 2026 importaciones de mercancías"},"value":6.494,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-imports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Ağustos 2026 mal ithalatı","en":"August 2026 merchandise imports","ar":"أغسطس 2026 واردات السلع","fr":"août 2026 importations de marchandises","es":"agosto de 2026 importaciones de mercancías"},"value":5.824,"unit":"billion USD","period":"2026-08","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-imports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2025 mal ithalatı","en":"September 2025 merchandise imports","ar":"سبتمبر 2025 واردات السلع","fr":"septembre 2025 importations de marchandises","es":"septiembre de 2025 importaciones de mercancías"},"value":5.848,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-imports","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"mal ithalatı aylık değişimi (Eylül/Ağustos 2026)","en":"Month-on-month change in merchandise imports (September/August 2026)","ar":"التغير الشهري واردات السلع (سبتمبر/أغسطس 2026)","fr":"Variation mensuelle importations de marchandises (septembre/août 2026)","es":"Variación mensual importaciones de mercancías (septiembre/agosto de 2026)"},"value":11.5,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-imports-change-mom","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"mal ithalatı yıllık değişimi (Eylül 2026/Eylül 2025)","en":"Year-on-year change in merchandise imports (September 2026/September 2025)","ar":"التغير السنوي واردات السلع (سبتمبر 2026/سبتمبر 2025)","fr":"Variation annuelle importations de marchandises (septembre 2026/septembre 2025)","es":"Variación interanual importaciones de mercancías (septiembre de 2026/septiembre de 2025)"},"value":11.05,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-imports-change-yoy","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2026 mal ticareti açığının pozitif büyüklüğü","en":"September 2026 merchandise trade-deficit magnitude","ar":"سبتمبر 2026 مقدار عجز تجارة السلع","fr":"septembre 2026 montant du déficit de marchandises","es":"septiembre de 2026 magnitud del déficit de mercancías"},"value":3.555,"unit":"billion USD","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-deficit","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Ağustos 2026 mal ticareti açığının pozitif büyüklüğü","en":"August 2026 merchandise trade-deficit magnitude","ar":"أغسطس 2026 مقدار عجز تجارة السلع","fr":"août 2026 montant du déficit de marchandises","es":"agosto de 2026 magnitud del déficit de mercancías"},"value":3.292,"unit":"billion USD","period":"2026-08","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-deficit","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"Eylül 2025 mal ticareti açığının pozitif büyüklüğü","en":"September 2025 merchandise trade-deficit magnitude","ar":"سبتمبر 2025 مقدار عجز تجارة السلع","fr":"septembre 2025 montant du déficit de marchandises","es":"septiembre de 2025 magnitud del déficit de mercancías"},"value":3.349,"unit":"billion USD","period":"2025-09","basis":"observed","measure":{"id":"pakistan-monthly-merchandise-deficit","unitCode":"billion-usd","geography":"pakistan","frequency":"monthly","aggregation":"flow","periodRole":"reference-period"}},{"label":{"tr":"mal ticareti açığının pozitif büyüklüğü aylık değişimi (Eylül/Ağustos 2026)","en":"Month-on-month change in merchandise trade-deficit magnitude (September/August 2026)","ar":"التغير الشهري مقدار عجز تجارة السلع (سبتمبر/أغسطس 2026)","fr":"Variation mensuelle montant du déficit de marchandises (septembre/août 2026)","es":"Variación mensual magnitud del déficit de mercancías (septiembre/agosto de 2026)"},"value":7.99,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-deficit-change-mom","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}},{"label":{"tr":"mal ticareti açığının pozitif büyüklüğü yıllık değişimi (Eylül 2026/Eylül 2025)","en":"Year-on-year change in merchandise trade-deficit magnitude (September 2026/September 2025)","ar":"التغير السنوي مقدار عجز تجارة السلع (سبتمبر 2026/سبتمبر 2025)","fr":"Variation annuelle montant du déficit de marchandises (septembre 2026/septembre 2025)","es":"Variación interanual magnitud del déficit de mercancías (septiembre de 2026/septiembre de 2025)"},"value":6.15,"unit":"percent","period":"2026-09","basis":"estimate","measure":{"id":"pakistan-monthly-merchandise-deficit-change-yoy","unitCode":"percent","geography":"pakistan","frequency":"monthly","aggregation":"change","periodRole":"reference-period"}}]}]},"data_compilations":[{"id":"merchandise-trade","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null}],"data_downloads":[{"id":"merchandise-trade","formats":{"json":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026/data/merchandise-trade?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/pakistan-q1-trade-deficit-widens-2026/data/merchandise-trade?lang=en&format=csv"}}],"content":{"paragraphs":["Pakistan’s Bureau of Statistics (PBS) September 2026 merchandise-trade summary, released on 2 October, shows exports rose 10.84% year on year in the July–September first quarter of fiscal 2026/27. The official workbook lists exports of US$8.423 billion, compared with US$7.599 billion in the same three months a year earlier. Imports increased from US$16.973 billion to US$19.215 billion, a rise of 13.21%. The merchandise trade-deficit magnitude therefore widened from US$9.374 billion to US$10.792 billion, up 15.13%. Export growth is a positive movement in the export flow, but imports grew faster over the quarter and the gap also became larger. These figures cover merchandise trade in the PBS tables; they are not a measure of trade in services or of the current-account balance. The comparison is against July–September 2025, not against the previous quarter.","September alone showed a stronger export month. The PBS workbook records exports of US$2.939 billion in September and US$2.532 billion in August, a month-on-month increase of 16.07%. Compared with US$2.499 billion in September 2025, exports were 17.61% higher year on year. Imports reached US$6.494 billion in September, up 11.50% from US$5.824 billion in August and 11.05% from US$5.848 billion a year earlier. The monthly merchandise deficit widened to US$3.555 billion from US$3.292 billion in August; against September 2025’s US$3.349 billion, it was 6.15% higher. A strong September export reading does not by itself explain the quarterly total: the three-month result also includes July and August, and the monthly growth rates use distinct comparison periods.","PBS reports the amounts in millions of US dollars; values in this article are expressed in billions through exact scale conversion, while the percentages are reproduced from the official table. The workbook marks September 2026 as “P” and August as “F.” It also notes that September data from the Federal Board of Revenue’s Data Retrieval System had not yet been received. The September observations may therefore be subject to an incomplete customs-data flow and could be revised in a later release. The PBS statistics page lists the September monthly summary and its workbook, while Associated Press of Pakistan reported the first-quarter totals on 3 October citing PBS. Both sources concern merchandise trade. Their figures should not be used to infer services exports, the current account or national-accounts output without separate data.","The central reading is a comparison of growth rates, not a causal explanation: imports expanded faster than exports during the first quarter, and the merchandise deficit was higher than in the corresponding period a year earlier. The summary table does not identify which products, trading partners or price-versus-volume movements account for the difference. Answering those questions would require commodity and country breakdowns, unit-value and quantity series, and care with the classifications used in each table. It is also important to check whether the September values change when the missing customs input is incorporated; the workbook explicitly flags that data gap. The quarter should therefore not be presented as a one-sided export success or as proof of a particular cause of external-balance pressure. This official snapshot establishes a rise in exports, a faster rise in imports and a wider nominal-dollar merchandise trade gap."],"key_points":[],"sections":[]},"text":"PBS reports July–September goods exports up 10.84% year on year, while imports rose 13.21% and the quarterly deficit widened 15.13%.\n\nPakistan’s Bureau of Statistics (PBS) September 2026 merchandise-trade summary, released on 2 October, shows exports rose 10.84% year on year in the July–September first quarter of fiscal 2026/27. The official workbook lists exports of US$8.423 billion, compared with US$7.599 billion in the same three months a year earlier. Imports increased from US$16.973 billion to US$19.215 billion, a rise of 13.21%. The merchandise trade-deficit magnitude therefore widened from US$9.374 billion to US$10.792 billion, up 15.13%. Export growth is a positive movement in the export flow, but imports grew faster over the quarter and the gap also became larger. These figures cover merchandise trade in the PBS tables; they are not a measure of trade in services or of the current-account balance. The comparison is against July–September 2025, not against the previous quarter.\n\nSeptember alone showed a stronger export month. The PBS workbook records exports of US$2.939 billion in September and US$2.532 billion in August, a month-on-month increase of 16.07%. Compared with US$2.499 billion in September 2025, exports were 17.61% higher year on year. Imports reached US$6.494 billion in September, up 11.50% from US$5.824 billion in August and 11.05% from US$5.848 billion a year earlier. The monthly merchandise deficit widened to US$3.555 billion from US$3.292 billion in August; against September 2025’s US$3.349 billion, it was 6.15% higher. A strong September export reading does not by itself explain the quarterly total: the three-month result also includes July and August, and the monthly growth rates use distinct comparison periods.\n\nPBS reports the amounts in millions of US dollars; values in this article are expressed in billions through exact scale conversion, while the percentages are reproduced from the official table. The workbook marks September 2026 as “P” and August as “F.” It also notes that September data from the Federal Board of Revenue’s Data Retrieval System had not yet been received. The September observations may therefore be subject to an incomplete customs-data flow and could be revised in a later release. The PBS statistics page lists the September monthly summary and its workbook, while Associated Press of Pakistan reported the first-quarter totals on 3 October citing PBS. Both sources concern merchandise trade. Their figures should not be used to infer services exports, the current account or national-accounts output without separate data.\n\nThe central reading is a comparison of growth rates, not a causal explanation: imports expanded faster than exports during the first quarter, and the merchandise deficit was higher than in the corresponding period a year earlier. The summary table does not identify which products, trading partners or price-versus-volume movements account for the difference. Answering those questions would require commodity and country breakdowns, unit-value and quantity series, and care with the classifications used in each table. It is also important to check whether the September values change when the missing customs input is incorporated; the workbook explicitly flags that data gap. The quarter should therefore not be presented as a one-sided export success or as proof of a particular cause of external-balance pressure. This official snapshot establishes a rise in exports, a faster rise in imports and a wider nominal-dollar merchandise trade gap.","corrections":[],"editorial_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"},"section_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"}}}