May 24, 2019 (MLN): Pakistan’s import bill has come down by 5% during Jul-April FY19 to $44 billion compared to same period last year. Higher regulatory duties and check on unnecessary items had resulted in curtailing influx of imported goods.
Among Pakistan’s top trading partners, China is the country from where Pakistan imports the most. According to the latest figures released by State Bank of Pakistan (SBP), during Jul- April 2018-19, China’s exports to Pakistan which accounted for 19% of Pakistan’s imports witnessed a decline of 11% to $8.3 billion against $9.3 billion in the same period last year.
United Arab Emirates (UAE) has the second largest share in Pakistan imports, as its exports to Pakistan accounted for 17.3% of Pakistan’s imports. Its exports to Pakistan stood at $5 billion during the period under review against $4.9 billion last year, showing an increase of 2%.
Singapore has emerged as the third largest exporter to Pakistan, having share of 6.6% in Pakistan’s imports which is down by 1.4% due to 21% decline in its exports to Pakistan to $2.9 billion against $3.7 billion in corresponding period last year.
Saudi Arabia is just a little behind Singapore, 5.4% of Pakistan imports came from the region during the aforementioned period. Its exports to Pakistan dropped by 6% to $2.3 billion from $ 2.5 billion reported last year.
Among other trading partners, Pakistan’s imports from Qatar increased significantly by 43% to $1.8 billion against $1.2 billion last year. Similarly, the imports from USA increased by 6% to $1.77 billion.
On the other hand, the imports from Japan and India declined by 17% and 6% to $1.3 billion and $1.4 billion respectively.
