KARACHI, 28 August 2024 (TDI): The Afghanistan-Pakistan transit trade saw a significant drop of 59% year-over-year in the fiscal year 2023-24, falling to $2.9 billion, according to Pakistani media reports.
The decline is attributed to Pakistan’s stricter anti-smuggling measures and heightened import restrictions. Bilateral trade between the two countries also decreased by 12% during the same period, primarily due to a 40% reduction in Afghan goods imports, as reported by The Nation.
Despite this overall decline, Pakistan’s exports to Afghanistan grew by 12% in the fiscal year, reaching $59.11 million in FY 2023-24. In the current fiscal year, 2024-25, exports have surged by 75%, reaching $103.52 million.
On the import front, Pakistan’s imports from Afghanistan amounted to $40.87 million in FY 2023-24, decreasing by 8% to $37.67 million in FY 2024-25.
In July 2024, the total bilateral trade volume between Pakistan and Afghanistan reached $141.18 million, marking a 41% increase from $99.98 million in July 2023. The trade volume also saw a 45% month-over-month rise from $97.43 million in June 2024. Pakistan’s exports to Afghanistan in July 2024 were valued at $103.52 million, representing a 75% increase compared to the same month last year.
Pakistan-Afghanistan transit trade has plummeted 59% year on year, hitting $2.9bn amid anti-smuggling measures and import restrictions. Despite a 12% drop in overall bilateral trade, Pakistan’s exports to Afghanistan surged by 75%, reaching $103.52mn in July alone. Import… pic.twitter.com/HXmWNiKQT9
— Afghanistan Times (@AfghanistanTime) August 28, 2024
