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Wednesday, February 14, 2024

Pakistan’s Exports to Afghanistan Increase by 3.63% in Fiscal Year 2023-24

Pakistan's exports to Afghanistan showed a modest increase in fiscal year 2023-24, as reported by the State Bank of Pakistan, while imports from Afghanistan experienced a significant decline, impacting bilateral trade relations between the two countries.

Pakistan’s export of goods and services to Afghanistan witnessed an increase of 3.63 per cent during the first six months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to Afghanistan were recorded at US $260.716 million during July-December (2023-24) against exports of US $251.580 million during July-December (2022-23), SBP data revealed.

On a year-to-year basis, the exports to Afghanistan decreased by 26.83 per cent from $38.297 million in December 2022, against the exports of $28.019 million in December 2023.

Meanwhile, on a month-on-month basis, the exports to Afghanistan also witnessed a decline of 46.02 per cent during December 2023 as compared to the exports of $51.911 million in November 2023, the SBP data revealed.

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Overall Pakistan’s exports to other countries witnessed an increase of 4.99 per cent in the first six months, from US $14.222 billion to US $15.288 billion, the SBP data revealed.

On the other hand, the imports from Afghanistan into the country during the months under review were recorded at US $4.425 million against US $13.253 million last year, showing a decline of 66.61 per cent in July- December (2023-24).

On a year-on-year basis, the imports for Afghanistan decreased by 28.39 per cent from US $1.729 million in December 2022, against the imports of US $1.238 million in December 2023.

On a month-on-month basis, the imports from Afghanistan into the country witnessed a nominal decrease of 3.95 per cent during December 2023, as compared to the imports of US $1.289 million during November 2023, according to the data.

The overall imports into the country witnessed a decrease of 14.69 per cent, from $29.588 billion to US $25.241 billion, according to the data.