Trade Between Pakistan, India Remains Intact Despite Tensions
Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday.
This photo is for representational purpose only.
Islamabad: Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday.
A report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing imports by 23 per cent, Dawn online reported.
The trade balance, however, remained in favour of India.
After growing by 14 percent, exports from Pakistan to India amounted to $286 million in the July-February period. Imports from India fell 23 percent to $958.3 million from $1,244 million recorded a year ago, the SBP report said.
One reason for Pakistan's improved exports to India is high cement demand in the neighbouring country.
This has offset the negative impact of a decline in Pakistan's cement exports to Afghanistan and South Africa, reports Dawn online.
"A slight consolation was continued strong demand for Pakistani cement from India. This partially offset the declines witnessed in the two other major markets," the SBP report said.
The deficit was $993 million in the same period of the last fiscal year.
Imports from India in 2015-16 were worth over four times the exports from Pakistan, a five-year high.
Pakistan imported goods worth $1.8 billion in 2015-16 compared to the exports of just $400 million, the SBP report added.
Recommended For You
- Netflix Ranks X Men, Calls Wolverine Overrated and Fans Lose Their Cool
- Fare Enough: Pilot Spells Out 'I'm Bored' Across the Sky During Test Flight
- Samsung Galaxy S10 Plus Vs Apple iPhone XS Max: Which is The Ultimate Flagship Phone?
- YouTube Has Heard The Advertisers Message, And is Now Cracking Down on Pedophiles
- Google Built a Microphone in The Nest Secure, And Then Forgot to Mention That to Anyone Buying it
- 01 d
- 12 h
- 38 m
- 09 s