Pakistan’s exports to Afghanistan decline 43.61pc

SBP

KARACHI: Pakistan’s exports to Afghanistan have witnessed a decline of 43.61 percent during the first month of the current financial year (2020-21) as compared to the corresponding period of last year.

State Bank of Pakistan (SBP) said on Tuesday the overall exports to Afghanistan were recorded at the US $ 61.255 million during July 2020 against exports of US $ 108.642 million during July 2019, showing negative growth of 43.61 percent.

SBP data revealed that overall Pakistan’s exports to other countries witnessed a decline of 14.57 percent in the first month, from the US $ 2.216 billion to the US $ 1.893 billion.

Conversely, the imports from Afghanistan into the country during the period under review were recorded at the US $ 4.216 million against the US $ 9.752 million last year, showing a decrease of 56.76 percent in July 2020.

According to the SBP, the overall imports into the country decreased by 13.26 percent, from the US $ 4.184 billion to the US $ 3.629 billion.

Based on the trade figures, the trade of goods and services with Afghanistan witnessed a diminish of 42.32 percent in surplus during July 2020 as compared to the corresponding period of last year.

SBP report said the surplus during the period under review was recorded at the US $ 57.039 million against the US $ 98.890 million during the same period of last year, showing negative growth of 42.32 percent.

Earlier, Adviser to Prime Minister of Pakistan for Commerce, Industry and Investment Abdul Razzak Dawood had feared that exports could be delayed due to heavy rain in Karachi.

On a social media website Twitter, Razzak Dawood said, “It appears that because of the heavy rains, particularly in Karachi, our exports consignments are being delayed and hence our exports for the month of August may be affected”

“Any difficulties faced by the exporters may please be brought to the notice of the MOC,” Dawood added.

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