Saturday, May 25, 2024

Pakistan’s Exports to Afghanistan increased by 32%

Immigration News

Fidel Rahmati
Fidel Rahmatihttps://www.khaama.com
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

Pakistan’s export to Afghanistan rose by 32 per cent from $500 million to $ 658 million in the first eight months of the fiscal year 2022-2023.

Similarly, the trade between Pakistan and Afghanistan increased from July to February of the current fiscal year, rising by 28 per cent to $1333.86 million from $1044.14 million, the Nation reported.

On the other hand, the import of Pakistan from Afghanistan also showed an increase of 24 per cent, from $544.17 million to $675.01 million during the eight months, the report stated.

The export of tractors jumped by 808%, from $0.81 million to $7.34 million, and motorcycles by 591%, from %0.79 million to $5.49 million within the eight months of the fiscal year.

In addition, the export of pharmaceutical products to Afghanistan has increased by 214% from $28.52 million to $89.60%, and rubber by 165$ from $3.02 million to $8.01 million from July to February, of the current fiscal year.

At the same time, plastic products, food preparation items, rice, and cement exports have increased tremendously during the eight months of the current fiscal year. The export of cement increased by 19 per cent during the ongoing fiscal year.

According to the State Bank of Pakistan, the country’s exports to Afghanistan were recorded at US $285.177 million from July-January (2022-23) against US $257.888 million in exports from July-January (2021-22), showing growth of 10.58 per cent.

Meanwhile, “Afghanistan is exporting about 10,000 tons of coal daily to Pakistan,” the SIGAR report said. “Between June and July 2022, the Taliban tripled prices on coal exports to raise revenue from its mining sector amid booming coal export to Pakistan,” the report said.

However, the international community did not recognize the regime as the government of Afghanistan after the seizing control of the country in August 2021.

Meanwhile, several countries, including China, Pakistan, Iran, Russia, and Turkey Turkmenistan, have allowed Taliban-appointed diplomats to reside at Afghanistan embassies in their capital cities.

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