Friday, June 21, 2024

Afghanistan Exports Surge to $1.9 Billion in 12 Months

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

The Afghanistan exports surged to $1.9 billion in the solar year (1401), showing an increase of 63% compared to the last year, according to the economic deputy PM’s office.

“Our biggest import was linen textiles from different countries, like China and Pakistan, and our greatest exports are coal, dry fruit, and carpets,” said Abdul Salam Javad, a spokesman for the Ministry of Commerce and Industry, ToloNews Reported.

Pakistan, India, and China are the top three international destinations for Afghan exports, respectively.

Pakistan is currently Afghanistan’s top trading partner, according to the State Bank of Pakistan.

In 2022, the two countries’ bilateral commerce was to reach $ 1.513 billion, while India, traditionally ranked second, had bilateral trade with Afghanistan of $545 million last year.

The hike in imports from Afghanistan to Pakistan during the first quarter of 2022 is also due to an increase in procurement of coal from Afghanistan by Pakistan, which has shown an increase of 484 % during the first quarter of 2022-23, after the government of Pakistan allowed the use of Afghan coal in power generation, Pakistani media reported. 

It is also estimated that China’s economic ties have been developing swiftly with Afghanistan and may secure the second-largest trade partner with the country after Pakistan in the current year, 2023.

Data from China’s customs show that in December 2022, China imported $9.09 million from Afghanistan and exported $59 million, resulting in a $49.9 million surplus in commerce with that country.

Afghanistan exports include dried fruit, carpets, coal, cotton, cereals, and non-alcoholic beverages.

However, the main challenges for the traders in the country include restrictions on the banking system, transferring money from banks, and high customs tariffs, according to the NSIA and Afghan Chamber of Commerce and Investment authorities.


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