The following is the data of Pakistan’s trade volume in terms of imports and exports with its neighboring Countries i.e. Iran, Afghanistan, and India;
The trade statistics with Iran are given as under:
The decrease in the exports of Pakistan to Iran over the years is owing to the following reasons:
- Absence of Banking Channel with Iran amidst US Sanctions on Iran.
- Closure of Border with Iran owing to prevailing COVID-19 pandemic from March 16, 2020 to May 15, 2020.
- The seasonal ban imposed by Iran on Pakistani Rice.
- High Tariff and non-Tariff barriers being imposed by Iran on Pakistani exports.
The trade statistics with Afghanistan are given as under:
The decrease in volume of trade with Afghanistan over the years is owing to the following reasons:
- Recent Closure of Border with Afghanistan owing to prevailing COVlD-19 pandemic from March 15, 2020. However, the border is now opened for exports of Pakistan to Afghanistan and Afghan Transit Trade for 6 days a week.
- Luke warm support from Afghanistan for entering into the trade liberalization regime with Pakistan.
- The demand of exports of Pakistan to Afghanistan has also declined owing to the withdrawal of NATO forces from Afghanistan.
- The ban imposed by Afghanistan on exports of culling birds from Pakistan.
The trade statistics with India are given as under:
The conspicuous decrease in the exports of Pakistan to India compared to the last year is owing to the following key reasons:
- The imposition of 200% duty by India on its imports from Pakistan since February 16, 2019 in wake of Pulwama attack.
- The suspension of trade by Pakistan with India (except therapeutic products) since August 9, 2019 as a response to the revocation of Article 370 by India on August 5, 2019.
Note: The above data was shared with the Senate on June 5, 2020 by the Minister for Commerce and Textile in response to a question by Senator Muhammad Ayub.
Tags: Pakistan’s trade volume
