The slump in rankings came due to a draw at Khulna in the first Test against Bangladesh.
South Africa hold the first spot in the Test rankings while Australia and New Zealand follow on the second and third positions, respectively.
India is ranked fourth while England is fifth.
Read: Pakistan claim series with 328-run win
Meanwhile, Pakistani cricketers have boosted their ranking with a Test series win against Bangladesh.
Younus Khan has moved up to the seventh position in batsmen's Test rankings, while Azhar Ali – named the man of the series – climbed to 16th in the rankings with a total of 727 points.
Sarfraz Ahmed also had a successful series with the bat and reached his career-best 22nd spot in the rankings with 673 points.
Among the bowlers, fast-bowler Junaid Khan — who captured five wickets in the two-match Test series against Bangladesh — rose two places and now occupies the 15th spot.
Leg-spinner Yasir Shah also made rapid progress and is now 20th, rising six places.
Earlier, Pakistan moved to the third position even after playing a draw in Khulna as West Indies beat England in the third Test to draw the three-match Test series 1-1.
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