Xifres de comerç exterior de Pakistan

Foreign Trade in Figures

The share of foreign trade in Pakistan's GDP continues to be low, at 29% (World Bank, latest data available). 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. Textile products accounted by far for the largest share of exports (around 60%, mostly comprising linen, clothing and cotton), followed by rice (9.4%). In regards to imports, the largest item was petroleum products, followed by palm oil, telephones and ferrous waste (Comtrade).

The United States is the top destination for Pakistani exports (18.6%, mainly textile), followed by China (8.4%), the United Kingdom (7.8%), and Germany (6.3%). China is by far the largest supplier of goods and services in Pakistan (27.3%), followed by the United Arab Emirates (9.8%), the United States (5.6%), Indonesia (5.3%), and Saudi Arabia (4.1%). The free trade agreement (FTA) with China has been detrimental to Pakistani manufacturing exports, which have declined continuously in recent years, and local businesses worry the completion of China–Pakistan Economic Corridor would further increase the share of Chinese products in the domestic market. As talks with the GCC stalled, Pakistan is now pursuing individual trade agreements with Saudi, the UAE and Oman. Moreover, Pakistan and Qatar have agreed in principle on a preferential trade agreement (PTA) and a free trade agreement (FTA) to enhance bilateral trade.

Pakistan's trade structure has been structurally in deficit, with exports remaining sluggish on the back of low global demand for Pakistani crops. Imports of goods reached USD 45.8 billion in 2020, while exports were only USD 21.9 billion. Concerning the trade of services, imports were USD 7.3 billion, whereas exports amounted to USD 4.3 billion. Overall imports decreased at a faster pace than exports, resulting in a reduced trade deficit of 7.4% of GDO (from 10.1% one year earlier – World Bank). The latest figures from the Bureau of Statistics show that in the first six months of FY2022 (Jul-Dec 2021), exports of goods reached USD 15.1 billion (+24.9% y-o-y), against USD 40.6 billion of imports (+66.2% y-o-y, driven by rising global fuel and food prices and purchases of COVID-19 vaccines).