Pakistan’s exports to India plummeted to 90.4 percent in 2021 | Pakistan suffered a major setback, in 2021 India’s exports decreased by 90.4 percent


Pakistan's exports to India plummeted to 90.4 percent in 2021 - India TV Paisa
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Pakistan’s exports to India plummeted to 90.4 percent in 2021

Reflexes

  • In 2021, only $ 0.099 million worth of products were exported from Pakistan to India.
  • There has also been a decrease in Pakistani imports from India during this period.
  • Islamabad has allowed the importation of only drugs from India amid the Corona epidemic.

Islamabad. Pakistan’s exports to India have dropped by 90.4 percent this year. So far this year, Pakistan has exported only $ 0.099 million worth of goods to India, compared to $ 1.035 million in the 2020-21 financial year. According to the latest data from the State Bank of Pakistan, this year’s imports from India to Pakistan have also decreased by 14.9 percent and this import has dropped to $ 42.502 million from $ 49.947 million last year.

The Government of Pakistan has canceled its bilateral trade with India, which is why there has been such a large decrease in imports and exports between the two countries. Islamabad has only allowed the importation of pharmaceuticals from New Delhi since the start of the COVID-19 pandemic.

The latest figures from the State Bank of Pakistan show that during the first quarter of this financial year, Pakistan’s exports to nine countries in the region grew by 31.56 percent, while imports grew by 43 percent.

Regional countries such as Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan, and Maldives accounted for only 13.5% of Pakistan’s total world exports of $ 6.997 billion during the first quarter of fiscal year 2021-22. . China tops the list of Pakistan’s exports to neighboring countries. Pakistan conducts export business solely by sea to its distant neighbors Nepal, Sri Lanka, Bhutan, Bangladesh and the Maldives.

Imports from these countries to Pakistan have also increased during this period. Growth was 42.6 percent and total imports during the July-September quarter were $ 4.128 billion. Pakistan’s trade deficit has also increased during this period due to increased imports.

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