Pakistan’s exports to five Central Asian countries have exhibited modest growth at 1.09 percent for the first four months of the current fiscal year compared with the corresponding period last year. However, these exports do not portray potential for further expansion because, so far, exports to this region are less than optimal.
Summary Trade Growth
From July to October 2024, Pakistan’s exports to Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan were up marginally at $67.11 million against $66.38 million for the same period the previous year. However, the country imported a considerably larger amount of goods, growing by $39.05 million, to $43.4 million in this period.
Major imports of Pakistan originated from Uzbekistan and Turkmenistan, where considerable growth was observed in the country’s trade.
Distribution of Exports and Imports
Kazakhstan: Pakistan’s exports to Kazakhstan rose by 6.63%, reaching $27.96 million compared to $26.22 million last year. Imports from Kazakhstan grew slightly to $0.32 million from $0.13 million.
Uzbekistan: Exports to Uzbekistan decreased by 13.25%, dropping from $24.91 million last year to $21.61 million this year. However, imports from Uzbekistan surged by $29.98 million, reaching $32.47 million.
Turkmenistan: The exports to Turkmenistan had a remarkable surge of 57% with increased values reaching $0.66 million compared to last year’s $0.42 million. Imports from Turkmenistan were also high by 114% to reach the value of $3.48 million.
Kyrgyzstan: The exports to Kyrgyzstan declined by 44.44% with values reducing from $2.97 million last year to $1.65 million. The imports from Kyrgyzstan increased drastically, over 300%, reaching the value of $0.24 million compared to $0.06 million.
Tajikistan: Exports to Tajikistan grew by 28.39%, to $15.23 million, from $11.86 million last year.
Central Asia Trading Potential
Pakistan’s total trade with the five Central Asian countries is estimated to be around $400 and $500 million per annum, which would mainly pass through Afghanistan. Yet, the existing prospects notwithstanding, the region’s trade volume has not yet achieved the level it could have reached. The Pakistan-Uzbek transit trade agreement has enabled some imports like potatoes from Pakistan to reach Tajikistan.
Overall, while there are indications of growth in particular trade areas, the full potential of Pakistan’s exports to Central Asia remains untapped.
