Afghanistan reports trade surplus of $79 million with Pakistan

Islamabad, 4 November 2022 (TDI): According to the latest report from the Special Inspector General for Afghanistan Reconstruction (SIGAR), Afghanistan had a trade surplus with Pakistan of $79 million from July 2021 to June 2022.

According to the report, the currency of Afghanistan, the Afghani, increased by 11.6% against the Pakistani rupee.

Data released by Afghanistan’s Central Bank, Da Afghanistan Bank (DAB), claims that the Afghani fell 0.6 percent versus the US dollar and 1.9 percent against the Chinese yuan between the end of June and mid-September.

Food products, pharmaceuticals, and timber were Afghanistan’s top imports from Pakistan this year, according to SIGAR, which referenced the World Bank’s most recent trade data.

However, as Pakistanis sought other fuel sources, rising global oil prices favored Afghanistan in bilateral trade. Afghanistan exports around 10,000 tons of coal each day to Pakistan.

This has been cited by a representative for the Taliban’s Ministry of Mines and Petroleum, demonstrating how Afghanistan’s Taliban rulers gain from increased oil prices.

Also read: Pakistan and Afghanistan discuss bilateral trade

Hundreds of trucks transport coal across three dedicated border crossings into Pakistan every day. Both sides are reportedly planning to add more space for additional trucks and open customs facilities for additional operational hours per day, rather than the current 12 hours.

Moreover, the Taliban tripled coal export prices to increase money from its mining sector amid booming coal exports to Pakistan between June and July 2022.

However, the US monitoring agency observed that the Taliban’s diplomatic isolation has continued, as no country has officially recognized the rule as the government of Afghanistan since the organization gained the country’s control in August last year.

The US officials have continued to interact with Taliban leadership on a wide range of issues. They closely monitor the Taliban’s behavior in a number of areas. However, the US has not officially recognized the Taliban as Afghanistan’s legitimate government.