Booming Trade Relations: Pakistan’s Exports to Afghanistan hit New Heights
Pakistan’s export of goods and services to Afghanistan witnessed an increase of 17.02 percent during first eight months of current fiscal year (2022-23) as compared to exports of corresponding period of last year, State Bank of Pakistan (SBP) reported.
Overall exports to Afghanistan were recorded at US $346.522 million during July-February (2022-23) against exports of US $296.109 million during July-February (2021-22), showing growth of 17.02 percent, SBP data revealed.
On a year-to-year basis, exports to Afghanistan also increased 60.49 percent from US $38.222 million in February 2022, against exports of US $61.345 million in same month this year.
Meanwhile, on a month-on-month basis, exports to Afghanistan also surge 82.58 percent during February 2023 as compared to exports of US $33.598 million in January 2022, the SBP data revealed.
Overall Pakistan’s exports to other countries witnessed a decrease of 9.65 percent in eight months, from US $ 20.632 billion to US $ 18.639 billion, SBP data revealed.
On other hand, imports from Afghanistan into country during period under review were recorded at US $13.540 million against US $119.328 million last year, showing a decline of 88.65 percent in July-February (2022-23).
On a year-on-year basis, import for Afghanistan witnessed also decreased by 98.89 percent from US $13.723 million in February 2022, against imports of US $0.151 million in February 2023.
On a month-on-month basis, imports from Afghanistan into country increased by 11.02 percent during February 2023, as compared to imports of US $0.136 million during January 2022, according to the data.
Overall imports into country witnessed a decrease of 21.02 percent, from US $47.336 billion to US $37.388 billion, according to data.
Based on trade figures, trade of goods and services with Afghanistan witnessed an increase of 88.35 percent in surplus during period under review as against corresponding period of previous year.
Surplus was recorded at US $332.982 million against US $176.781 million during last year, showing growth of 88.35 percent, the data revealed.