Exports and remittances grow in first quarter, says Ahsan Iqbal
Planning Minister Ahsan Iqbal said exports and remittances posted "encouraging growth" in the first quarter of the fiscal year. The Finance Ministry's outlook put remittances at $10.9 billion, up 14%, while imports and inflation also rose.
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- Remittances reached $10.9 billion in Q1 of FY2026-27, up 14% year-on-year.
- Exports rose 7.7% to $8.5 billion, while imports rose 14.1% to $17.8 billion.
- Inflation was 10.2% in the quarter, according to the Finance Ministry.
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said on Thursday that Pakistan's exports and workers' remittances recorded "encouraging growth" in the first quarter of the current fiscal year. He said this came despite disruptions in global markets, supply chains and logistics.
The Finance Ministry's latest monthly economic outlook report shows year-on-year growth in remittances, exports and foreign direct investment in the July-September quarter. It also shows that inflation and imports increased.
Remittances reached $10.9 billion in the first quarter of fiscal year 2026-27, a rise of 14% from the same period last year. In September 2026, inflows rose 12.7% year-on-year to $3.6 billion.
Exports rose 7.7% to $8.5 billion in the quarter. In September alone they rose 15.5% to $3 billion. Imports grew faster than exports: they rose 14.1% to $17.8 billion in the quarter and 22.7% to $6.2 billion in September.
Foreign direct investment reached $719.7 million in the quarter, up 19.9% year-on-year, with $219.5 million in September. The report also said 15,440 new companies were registered, up 37.3% year-on-year.
On prices, inflation reached 10.2% in the quarter and 10.3% in September, compared with 5.8% in September last year. The policy rate was 12% on October 26. Large-scale manufacturing grew 1.85% in the quarter and 0.67% in August.
The Federal Board of Revenue collected Rs3,086.2 billion in taxes in the quarter, including Rs1,363.8 billion in September, up 11.5% year-on-year. Federal non-tax revenue was Rs2,365.9 billion. The fiscal deficit was Rs1,197.9 billion and the primary surplus Rs2,311.2 billion, the report said.
State Bank of Pakistan reserves were $21.5 billion in October, and the rupee stood at Rs278.6 to the dollar on October 28. The Pakistan Stock Exchange index reached 165,736 points that day, with market capitalisation at Rs18.33 trillion. Agricultural lending rose 32.7% to Rs540.5 billion.
Why it matters
Remittances and exports affect household incomes, jobs and the rupee in Pakistan, while higher inflation and imports bear on the cost of living and the trade gap.
