KARACHI: Pakistan’s merchandise exports declined by nearly $2 billion during fiscal year 2025-26 (FY2026), but strong growth in information technology and other services helped keep the country’s total exports close to $40 billion.
According to brokerage firm Topline Securities, Pakistan’s goods exports fell by around 6% to approximately $30 billionin FY2026, based on provisional data released by the Pakistan Bureau of Statistics (PBS).
The firm noted that the State Bank of Pakistan (SBP) is expected to release its Balance of Payments data in the coming weeks. The SBP’s figures are generally regarded as the more comprehensive measure because they are based on actual foreign exchange inflows.
The decline in merchandise exports was largely driven by a sharp drop in rice exports. After reaching record levels in the previous fiscal year, rice export earnings fell by more than $1 billion as global prices normalized following the easing of India’s export restrictions. Lower export volumes also contributed to the decline.
Exports of several agricultural commodities and non-textile products remained under pressure throughout the year. Meanwhile, textile exports stayed broadly stable, with value-added textile products showing improvement. However, gains in the textile sector were not enough to offset declines in other export categories.
Despite weaker goods exports, Pakistan’s services sector continued to perform strongly. Exports of IT and IT-enabled services are projected to grow by nearly 20%, helping total goods and services exports remain close to $40 billion.
According to Topline Securities, Pakistan’s combined exports increased from $38.5 billion in FY2024 to $40.4 billion in FY2025, with FY2026 expected to close at approximately $40.1 billion, highlighting the growing contribution of the services sector to the country’s export earnings.
