Pakistan records 17% increase in exports to Afghanistan, SBP data shows

According to a report by the State Bank of Pakistan (SBP), Pakistan’s export of goods and services to Afghanistan has increased by 17.02 per cent during the first eight months of the current fiscal year (2022-23) compared to the corresponding period of the previous year.

From July-February (2022-23), overall exports to Afghanistan reached US $346.522 million, while during the same period last year, exports were recorded at US $296.109 million, showing a growth of 17.02 per cent.

Furthermore, the year-to-year basis also showed an increase of 60.49 per cent in exports to Afghanistan, rising from US $38.222 million in February 2022 to US $61.345 million in February 2023. Meanwhile, on a month-on-month basis, exports to Afghanistan also rose by 82.58 per cent during February 2023, reaching US $61.345 million, compared to US $33.598 million in January 2022.

In contrast, Pakistan’s exports to other countries decreased by 9.65 per cent during the eight months, dropping from US $20.632 billion to US $18.639 billion, according to SBP data.

The imports from Afghanistan into Pakistan during the period under review were recorded at US $13.540 million, which was a significant decrease of 88.65 per cent compared to last year’s US $119.328 million in July-February (2021-22).

Year-on-year, imports from Afghanistan also dropped by 98.89 per cent, from US $13.723 million in February 2022 to US $0.151 million in February 2023. However, on a month-on-month basis, imports from Afghanistan increased by 11.02 per cent during February 2023, reaching US $0.136 million, compared to US $0.122 million in January 2022.

Overall, the imports into Pakistan also witnessed a decrease of 21.02 per cent, from US $47.336 billion to US $37.388 billion, according to SBP data. Based on the trade figures, the trade of goods and services with Afghanistan witnessed an 88.35 per cent increase in surplus during the period under review compared to the previous year, with a recorded surplus of US $332.982 million against US $176.781 million during the last year.