Pakistan’s Exports to Central Asia Down 9%
Exports of Pakistan to five Central Asian countries in the first five months of the fiscal year 2024-25 have witnessed a decline of 8.87% against the same period of last year. Exports to Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan declined to $80.82 million from $88.69 million in the last fiscal year.
Though trade has declined in general, it is still promising to grow in the case of Central Asia. Imports from Kazakhstan, Tajikistan, and Uzbekistan have increased, showing that there is an increasing need for goods coming from these countries. The total imports from the region to Pakistan have been. increased, amounting to $82.03 million during the first five months, whereas the same period last year only saw $6.46 million.
Challenges and Opportunities for Pakistan
The fact is that exports do not have scope at the expected level, while trade relations with Central Asia still remain significant. The annual trade between Pakistan and the region via Afghanistan stands around. $400 to $500 million. The reason why trade has scope for further improvement is a result of effective. implementation of the transit trade deal signed with Uzbekistan, through which it started importing goods from Pakistan under that deal.
Bilateral trade is being increased, and efforts are being made to reduce the trade deficit. Strategic actions have the potential to increase growth in the region as trade agreements and cooperation continue to evolve.
