ISLAMABAD, Pakistan: The Senate has been informed that Pakistan exports to Iran decreased from US$ 319 million in April-December 2017 to US$ 209 million in April to December 2018 on year on basis.
In a written reply, the Minister for Commerce and Textile told the Upper House that however, the exports data shared by the Federal Board of Revenue (FBR) shows total exports of Pakistan to be US$ 12.32 million during July-December 2017 and US$11.00 million during July-December 2018.
The Minister for Commerce and Textile told that due to US sanctions on Iran and absence of banking channels, trade is being conducted either through third countries or informal channels. Hence, there is huge discrepancy in trade data reported by the FBR and Iranian Customs.
The Senate was further apprised that in 2017-18, the value of Pakistan’s trade with Bangladesh and Sri Lanka stood at US$ 810.329 and US$ 422.252 respectively.
The volume of trade between Pakistan and Bangladesh during the last five years is indicated in the table below:
The volume of trade between Pakistan and Sri Lanka during the last five years is indicated in the table below: