Arsalan Ali

The export of different items from Pakistan to Central Asian Republics (CARs) registered a remarkable increase in the first month of the current fiscal, WealthPK reports.

The data of the State Bank of Pakistan shows that exports from the country to Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan surged by 230%, 68%, 126% and 162%, respectively, in the first month of the financial year 2022-23 as compared to the corresponding period of the previous fiscal.

It shows that exports of different items from Pakistan to Kazakhstan reached $11.757 million in July 2022 as compared to $3.559 million in July 2021.

However, on month-on-month basis, Pakistan’s exports to Kazakhstan declined by 8% and dipped to $11.757 million in July 2022 from $12.758 million in June 2022.

In July 2022, trade was in Pakistan’s favour. The trade surplus with Kazakhstan was recorded at $11.690 million.

According to the UN Comtrade database, major export items to Kazakhstan from Pakistan include cereals, fruits, pharmaceutical products, vegetables, optical photos, medical apparatus and articles of apparel. Major import items from Kazakhstan to Pakistan include iron and steel, inorganic chemicals, copper and plastics. Likewise, exports from Pakistan to Kyrgyzstan reached $0.312 million in July 2022 from $0.185 million in July 2021, witnessing an increase of 68%.

Major export items to Kyrgyzstan from Pakistan include pharmaceutical products, toys and games, articles of leather, organic chemical, tools, implements, cutlery of base material and vegetables.

Imports from Kyrgyzstan to Pakistan include hides, skins and leather, optical, photo, technical apparatus, aircraft and spacecraft.

Also, exports to Tajikistan increased by 126% and reached $0.145 million in July 2022 as compared to $0.064 million in July 2021.

However, on month-on-month basis, exports to Kyrgyzstan declined by 57%, reaching $0.145 million in July 2022 as compared to $0.345 million in July 2021. Trade was not in Pakistan’s favour as trade deficit with Tajikistan was recorded at $0.315 million in the first month of the current fiscal.

Likewise, imports from Tajikistan declined by 53% and was recorded at $0.460 million in July 2022 against $0.983 million in July 2021.

Exports to Tajikistan from Pakistan include dairy products, eggs, honey, edible products, pharmaceutical products, cereals, fruits, aluminium, sugar and sugar confectionery. Imports from Tajikistan include cotton, optical, photo, technical, medical apparatus, aircraft, spacecraft, machinery, nuclear reactor and boilers.

Furthermore, exports to Turkmenistan grew by 162% and reached $0.021 million in the first month of the current fiscal as compared to $0.008 million in July 2021. During that period, the trade deficit with Turkmenistan was recorded at $0.289 million. Imports from Turkmenistan stood at $0.310 million in July 2022.

Turkmenistan imports mostly vegetables, textile fibre, paper yarn, woven fabric, fruits, explosives, pyrotechnics, matches, pyrophoric, pharmaceutical products, textile articles, sets, clothing, inorganic chemical, precious metal compound and cereal from Pakistan.

Moreover, Pakistan imports from Turkmenistan cotton, raw hides and skin, leather, plastics, inorganic chemical, precious metal compound, and products of animal origin, according to the research conducted by Wealth Pak.

Credit: Independent News Pakistan-WealthPak