Pakistan: Visió econòmica i política
Despite economic and political difficulties, Pakistan has taken steps to liberalise its trade and investment framework as part of commitments made with the WTO, IMF and the World Bank. Nevertheless, the share of foreign trade in Pakistan's GDP continues to be low, at 27% (World Bank, latest data available). Textile products account by far for the largest share of exports (around 60%, mostly comprising linen, clothing and cotton, making the country the 9th textile exporter in the world), followed by rice (4.877 million tons, valued at USD 2.51 billion in FY2022). In regards to imports, the largest items are petroleum products, followed by palm oil, telephones and coal (Comtrade).
The United States is the top destination for Pakistani exports (21.1%, mainly textile), followed by China (10.5%), the United Kingdom (7.3%), and Germany (5.4%). China is by far the largest supplier of goods and services in Pakistan (28.3%), ahead of the United Arab Emirates (10.1%), Indonesia (5.8%), the United States (5.3%), and Saudi Arabia (5.2%). The free trade agreement (FTA) with China impacted Pakistani manufacturing exports, which have declined in recent years, and local businesses worry the completion of the China–Pakistan Economic Corridor would further increase the share of Chinese products in the domestic market. Click here for an overview of Pakistan’s free trade agreements.
Pakistan's trade structure has been structurally in deficit: in 2021, imports of goods reached the record level of USD 72.5 billion (+58.3% year-on-year), while exports grew at a slower pace (+28.9%), totalling USD 28.3 billion. Concerning the trade of services, imports reached USD 9.8 billion, whereas exports amounted to USD 6.5 billion. For the same year, the World Bank estimated the country’s trade deficit at 8.9% of GDP (from 8.1% one year earlier). The latest figures from the Bureau of Statistics show that in the fiscal year 2022 (July ’21-June ’22), exports of goods reached USD 31.7 billion (+25.5% y-o-y), against USD 80 billion in imports (+42% y-o-y).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 57,746 | 60,078 | 50,332 | 45,804 | 72,515 |
Exports of Goods (million USD) | 21,725 | 23,425 | 23,329 | 21,961 | 28,319 |
Imports of Services (million USD) | 9,858 | 11,130 | 9,724 | 7,306 | 9,806 |
Exports of Services (million USD) | 3,914 | 4,695 | 4,656 | 4,378 | 6,498 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 25.5 | 27.6 | 28.9 | 26.7 | 27.1 |
Trade Balance (million USD) | -29,594 | -31,911 | -22,881 | -22,172 | -37,518 |
Trade Balance (Including Service) (million USD) | -35,007 | -37,648 | -27,306 | -24,765 | -40,826 |
Imports of Goods and Services (Annual % Change) | 19.0 | 15.7 | 7.6 | -5.1 | 14.5 |
Exports of Goods and Services (Annual % Change) | 2.5 | 10.0 | 13.2 | 1.5 | 6.5 |
Imports of Goods and Services (in % of GDP) | 17.3 | 19.0 | 19.5 | 17.4 | 18.0 |
Exports of Goods and Services (in % of GDP) | 8.2 | 8.6 | 9.4 | 9.3 | 9.1 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 4.2 | -3.8 | 15.4 | 8.8 | 6.3 |
Volume of imports of goods and services (Annual % change) | 6.3 | -20.6 | 9.9 | 6.1 | 6.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
It is a member of the South Asian Association for Regional Cooperation (SAARC)
Pakistan has signed Bilateral Investment Treaties (BITs) with nearly 40 countries. It has also signed ‘Double Taxation Agreements’ with nearly 50 countries.
The country has signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).
Main Customers (% of Exports) |
2021 |
United States | 21.1% |
China | 10.5% |
United Kingdom | 7.3% |
Germany | 5.4% |
Netherlands | 4.9% |
See More Countries | 50.8% |
Main Suppliers (% of Imports) |
2021 |
China | 28.3% |
United Arab Emirates | 10.1% |
Indonesia | 5.8% |
United States | 5.3% |
Saudi Arabia | 5.2% |
See More Countries | 45.4% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
5.8 bn USD of services exported in 2019 | |
25.43% | |
22.38% | |
21.03% | |
14.80% | |
8.56% | |
Personal travelPersonal travel | 8.52% |
Business travelBusiness travel | 0.03% |
4.99% | |
1.89% | |
0.73% | |
0.19% |
9.8 bn USD of services imported in 2019 | |
36.25% | |
25.95% | |
16.91% | |
Personal travelPersonal travel | 16.60% |
Business travelBusiness travel | 0.31% |
5.12% | |
4.35% | |
4.04% | |
2.90% | |
2.51% | |
1.96% | |
0.01% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: June 2023