Pakistan’s exports grew 7.7 percent to $8.5 billion during the first quarter of fiscal year 2026-27, according to the Finance Ministry’s monthly economic outlook report. Over the same period, remittances climbed 14 percent year on year to $10.9 billion.
The report also recorded September figures, with exports rising 15.5 percent to $3 billion and remittances increasing 12.7 percent to $3.6 billion.
Imports, foreign investment and reserves
Imports totalled $17.8 billion in the first quarter, up 14.1 percent from a year earlier. In September alone, imports rose 22.7 percent to $6.2 billion.
Foreign direct investment reached $719.7 million over the quarter, an annual increase of 19.9 percent. The State Bank of Pakistan’s foreign exchange reserves stood at $21.5 billion in October 2026, and the rupee was valued at Rs278.6 against the US dollar on October 28.
Tax collection and the fiscal position
The Federal Board of Revenue collected Rs3,286 billion in taxes during the first quarter, while September collections reached Rs1,363 billion, up 11.5 percent. Federal non-tax revenue came to Rs2,935 billion.
The government recorded a fiscal deficit of Rs1,971 billion, while the primary budget surplus stood at Rs2,113 billion. Agricultural lending rose 32.7 percent to Rs540.5 billion over the quarter.
Inflation, manufacturing and stock market trends
Inflation averaged 10.2 percent during the first quarter, according to the report, while September inflation rose to 10.3 percent, compared with 5.8 percent a year earlier. The policy rate stood at 12 percent on October 26, 2026.
Large-scale manufacturing output grew 1.85 percent in the first quarter, after growth of 0.67 percent in August 2026. The Pakistan Stock Exchange index closed at 165,736 points on October 28, up 3.52 percent from October last year. Newly registered companies numbered 15,440 during the quarter, a rise of 37.3 percent.
