Imports from India decrease by over 39% in 1QFY20: SBP

October 30, 2019: Pakistan’s imports from India dropped by 39.47 percent during the first quarter of the current financial year 2019-20, after downgrading of trade relations between the two countries since August this year.

Overall imports from India were recorded at $220.8 million from July to September 2019-20 against the Imports of $364.9 million from July to September 2018-19, showing negative growth 39.47 percent, according to the latest data of State Bank of Pakistan (SBP).

On the other hand, Pakistan’s exports to India during the period under review were recorded at $9.8 million against $102.4 million last year, showing a decrease of 90.43 percent in first three months of the current fiscal year.

Based on the trade figures, the imports from India witnessed a decline of 71.06 percent in September 2019, when compared to the imports of the same month of last year.

The imports from India into the country during September 2019 were recorded at $29.4 million against the imports of $101.8 million in September 2018.

On a month-on-month basis, the imports from India also witnessed a decrease of 57.72 percent during September 2019, when compared to the imports of $69.6 million during August 2019, according to the data.

On the other hand, the exports to India witnessed a decrease of 93.09 percent in September 2019, when compared to the exports of the same month of last year.

The exports to India during September 2019 were recorded at $1.7 million against the exports of $25.6 million in September 2018.

On a month-on-month basis, the exports to India also witnessed a negative growth of 28.35 percent during September 2019, when compared to the exports of $2.4 million during August 2019, according to the data.

APP