Exports to Pakistan increase sharply, thanks to coal and cotton
Pakistan says its exports to Afghanistan have dropped and imports sharply increased in the current financial year, leading to a bilateral trade balance for the first time in favor of the war-torn neighbor, VOA reported.
This comes after Pakistan implemented trade-related concessions for Afghanistan earlier this year in a bit to help it overcome humanitarian and economic crises.
VOA reported that in the 11 months of the current financial year, Pakistani exports to Afghanistan have dropped to around $700 million from more than $900 million last year, a spokesperson for the commerce ministry in Islamabad said.
According to the report, the change is attributed mainly to increased purchases of Afghan coal and good quality cotton by Pakistan in recent months.
The spokesperson said that imports from Afghanistan have increased to more than $700 million from $550 million last year.
The decline in Pakistani exports is attributed to U.S. sanctions on the interim Islamic Emirate of Afghanistan (IEA) government, the absence of banking channels and non-availability of dollars in Afghanistan, as well as a drop in demand for certain Pakistani goods, VOA reported.The post Exports to Pakistan increase sharply, thanks to coal and cotton first appeared on Ariana News.
Source: Ariana News