KARACHI: Pakistan and India bilateral trade faces the worst blow in FY2019-20 amid strained bilateral relations.
The trade between the two countries continued to suffer, but still mostlyskewed in India’s favour in the first half of 2019-20.
The latest data issued by the State Bank of Pakistan shows that bilateraltrade volume plunged in the first half of this fiscal year.
Pakistan’s exports to India during the period came in at an insignificant$16.8 million as compared to $213m in first half of 2018-19.
Meanwhile, imports from India also fell to $286.6m as against $865m in thesame period. As a result, Pakistan’s trade deficit with the easternneighbour amounted to $269.8m.
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Similarly, imports from China — the country’s largest trade partner — fellto $4.8 billion during July-December versus $5bn in same period last year.However, exports slightly rose to $936m, up from $889m in 1HFY19.
This meant a trade balance with China at a negative $864bn.
