ISLAMABAD: Pakistan’s trade deficit with the Middle East increased 5.14 per cent to $6.558 billion in the first half of the current fiscal year from $6.237bn over the same period last year due to the rise in petroleum imports.

The widening trade gap would concern policymakers mainly because of the rising imports of petroleum products from the region. At the same time, exports record a paltry growth to a few countries, according to the figures compiled by the State Bank of Pakistan.

Petroleum consumption has risen in the current fiscal year because the crude oil import surged 16.15pc in quantity in the first half year of FY25 from a year ago.

In FY24, the imbalance with the Middle East narrowed by 20.47pc to $13.014bn from $16.365bn over the preceding year, mainly due to lower petroleum imports........

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