ISLAMABAD – Pakistan’s imports from India dropped by 39.47 percent duringthe first quarter of current financial year 2019-20, after downgrading oftrade relations between the two countries since August this year.
Overall imports from India were recorded at $220.839 million during July toSeptember 2019-20 against the Imports of $364.901 million during July toSeptember 2018-19, showing negative growth 39.47 percent , according to thelatest data of State Bank of Pakistan (SBP).
On the other hand, Pakistan’s exports to India during the period underreview were recorded at $9.802 million against $102.458 million last year,showing decreased of 90.43 percent in first three months of current fiscalyear.
Based on the trade figures, the imports from India witnessed decline of71.06 percent in September 2019, when compared to the imports of the samemonth of last year.
The imports from India into the country during September 2019 were recordedat $29.453 million against the imports of $101.803 million in September2018.On month-on-month basis, the imports from India also witnessed decreased of57.72 percent during September 2019, when compared to the imports of$69.671 million during August 2019, according to the data.
On the other hand, the exports to India witnessed decreased of 93.09percent in September 2019, when compared to the exports of the same monthof last year.The exports to India during September 2019 were recorded at $1.769 millionagainst the exports of $25.628 million in September 2018.
Read Top Stories
On month-on-month basis, the exports to India also witnessed negativegrowth of 28.35 percent during September 2019, when compared to the exportsof $2.469 million during August 2019, according to the data.
Meanwhile, according to Pakistan Bureau of Statistics (PBS), the country’smerchandise trade deficit plunged by 34.85 percent during the first threemonths of the current fiscal year (2019-20) as compared to the deficit ofthe same month of last year.
The trade deficit during July-September (2019-20) was recorded at $5.727billion against the deficit of $8.791 billion during July-September(2018-19).The exports increased from $5.374 billion during last year to $5.522billion during the current fiscal year, showing growth of 2.75 percent.
On the other hand, the imports into the country witnessed declined of 20.6percent by falling from $14.165 billion last year to $11.249 billion duringthe current fiscal year, the data revealed.
