Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003, which provides a forum for discussion of bilateral trade issues. Data are in current U.S. dollars. It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year. The LPI uses standard statistical techniques to aggregate the data into a single indicator that can be used for cross-country comparisons. Pakistan imports from China worth US$ 14,545 million, with a partner share of 24.18 percent. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. ISLAMABAD: Pakistan is among twenty trading partners which have been placed on the 'watch list' of the US government. With a largely peaceful political transition in July 2018, the incumbent Pakistan Tehreek-e-Insaf (PTI) led collation government is facing steep economic challenges both at the macro and microeconomic levels. The United States is one of Pakistan's largest trading partners and continues to be one of the leading sources of foreign direct investment. Afghanistan is a significant trading partner of Pakistan; however, the trade volumes between the two have been on a decline since 2011. The Islamic Republic of Pakistan (Pakistan) shares land borders with 4 countries; Afghanistan, China, India and Iran. Trade assesses how the policy framework fosters trade in goods. Economic Complexity Competitive Landscape Year In addition, Taiwan went from a -$436 million deficit in 2020 to garnering a $1.5 billion surplus for 2021. 1) Product 'Total' is used for this computation. Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita, Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$), Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD, Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP), Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS. On the import side, the top 20 items had an import potential of $7.2 billion. Defense equipment and machinery i.e. The United States established diplomatic relations with Pakistan following the country's independence in 1947. The second lists top trade partners of Afghanistan regarding import total (buying). These countries, however, merit . Trade between Pakistan and Iran is very limited. In 2020, Pakistan was the EU's 42 nd largest trading partner in goods accounting for 0.3% of EU trade. Your email address will not be published. The United States was Pakistans largest export market in 2020 at $3.9 billion, a 0.5 percent decrease from the previous year. Ambassador, Maciej Pisarski, conveyed his pleasure towards growing the trade volume between the two countries as Poland had become Pakistan's 7th largest trading partner in the EU and it's in FY- 2021-22 total bilateral trade reached around USD 506.6 million. Pakistan borders 4 countries; these include Afghanistan, China, India and Iran. Trade Development Authority of Pakistan 5th Floor, Block A, Finance & Trade Centre P.O. jets fighters, combat vehicles, and their spare parts. On the other hand, Pakistan imports cotton, cotton yarn and industrial chemicals & dyes from India. Country Pakistan Year/Range 2019 Trade Flow Exports & Imports American firms have a strong presence in Pakistan. The main focus will be on trading partners and exports imports Pakistan does with them. The second lists top trade partners of Pakistan regarding import total (buying). Pakistan Trade Statistics. Also shown is each import country's percentage of total Pakistani exports. View All Export/Import Trade Partners Traded Goods (at the 2-digit HS Code level) Top 10 Export Goods. In 2018, exports stood at $66.6 billion while imports amounted to $41.1 billion. The United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $6.81 billion in 2020. Both nations need to improve trade facilitation through streamlined payments . Trading partners are those countries with whom a country does foreign trade. Machinery i.e. The Islamic Republic of Pakistan (Pakistan) shares land borders with 4 countries; Afghanistan, China, India and Iran. Top trading partners (import sources) of Pakistan in 2020: China with a share of 27% (12.4 billion US$) United Arab Emirates with a share of 9.77% (4.47 billion US$) USA with a share of 5.64% (2.58 billion US$) Indonesia with a share of 5.25% (2.4 billion US$) India is a large economy to the East of Pakistan. Required fields are marked *. Pakistan is among 20 trading partners which have been placed on the 'watch list' of the US government. Though, these states merit bilateral attention to resolve basic intellectual property problems. Imports of goods and services represent the value of all goods and other market services received from the rest of the world. Afghanistan is a significant trading partner of Pakistan; however, the trade volumes between the two have been on a decline since 2011. Defense technology i.e. In other words, the countries with whom a country does exports and imports are called its trading partners. Economic Policy & Debt: Balance of payments: Current account: Goods, services & income. During 2020, United States had a large net trade with Pakistan in the exports of Textiles ($772M), Vegetable Products ($496M), and Metals ($349M). The first table below shows top trading partners of Afghanistan in terms of export sales (selling), including Pakistan, India, and Russia. During the last 25 years the exports of Pakistan to Saudi Arabia have increased at an annualized rate of 5.19%, from $146M in 1995 to $516M in 2020. Pakistan exports paper and paperboard, rice and stationary products to Iran while it imports LPG, other mineral fuels and electrical energy from Iran. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporters partners. +92-21-111-444-111 Product Categories Agriculture Beverages and Confectionaries Cereals and Nuts Dairy Products Dry Fruits Pakistani trade with Russia and Ukraine also decreased mainly due to the Ukraine war. Discusses key economic indicators and trade statistics, which countries are dominant in the market, and other issues that affect trade. As of 2018, the untapped export potential for Pakistan to Afghanistan for its top 20 products was $354.0 million while the import potential for Pakistan from Afghanistan for the top 20 potential imports amounted to $56.0 million. DHL PAKISTAN PRIVATE LIMITED 320816 GERRYS INTERNATIONAL PRIVATE LIMITED 151778 M S PENTA COURIERS 85142 ADIDAS INTERNATIONAL TRADING AG C O ADIDAS AG 72802 Pakistan shipment record 29.8M Shipment records available Obtain Detailed Contact Information If you are looking to establish relationship with the Pakistan buyers, save time by getting 1) Mirror Exports is considered for export data 2) All products at HS 6 digits are considered 3) Computation is performed at Country-Product level and aggregated to country level, Annual percentage growth rate of the worlds trade value (export or import), by sector, at market prices in current U.S. dollars, 1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year, Annual percentage growth rate of the countrys trade value (export or import), by sector, at market prices in current U.S. dollars. Total number of products exported by a country at the Harmonized System six digit level in any given year. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Economies are ranked on their ease of doing business, from 1189. WASHINGTON: Afghanistan registered a trade surplus of $79 million with Pakistan, one of its largest trading partners, from July 2021 to June 2022, according to the latest report by an official US monitoring agency, known as SIGAR. The first table below shows top trading partners of Pakistan in terms of export sales (selling), including United States, United Arab Emirates, and United Kingdom. Total Import/Export Value in thousands of US Dollars current value. Number of distinct NTM measures in effect in a country in a particular year. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. For example, Pakistan exports (a) textiles products, (b) sports goods, surgical instruments, carpets (c) leather and leather products (d) Fish and Fish products. Pakistan's 2020 Import Policy Order continues bans on goods from India and Israel. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Share sensitive information only on official, secure websites. Federal Board of Revenue (FBR) achieved tax collection target for FY2021 by collecting $30.5 billion against the revised target of $30.3 billion. For example, of the 11 original crops for which AMS was computed for 1986-88, eligible production was assumed to be . During 2020, Pakistan had a large net trade with United States in the exports of Textiles ($3.18B), Animal Hides ($142M), and Miscellaneous ($123M). submarines, jet fighters, and their spare parts. 4 This was mainly because Pakistan notified the eligible production for most crops, and hence the AMS, to be zero. Among Taiwan's trading partners that generate the greatest positive trade balances, Taiwanese surpluses with Belgium (up 197.9%), Vietnam (up 56.2%) and the United States of America (up 46.9%) grew at the fastest pace from 2020 to 2021. Save my name, email, and website in this browser for the next time I comment. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Global Insights . The PBCs research-based advocacy supports measures which improve Pakistani industrys regional and global competitiveness. For example, Pakistan imports mineral oil from Saudi Arabia and exports meat to it. Pakistan's Trade with its Regional Partners: India, Iran & Afghanistan | Pakistan Business Council 021-35630528-29 021-35630530 Regional trading blocs have helped their respective member states to become competitive and contributed greatly to their economic development. As an import dependent economy, Pakistan is presently facing severe challenges, ranging from balance of payments, currency depreciation, to trade deficits stemming from high commodity prices in the international markets and supply chain disruptions. LPI Score demonstrate comparative performancethe dimensions show on a scale (lowest score to highest score) from 1 to 5 relevant to the possible comparison groupsof all countries (world), region and income group. Currently, there are more than 80 wholly- or majority-owned U.S. subsidiary firms registered with the American Business Council (ABC) of Pakistan and the American Business Forum (ABF). Pakistan's 2016 Import Policy Order bans the import of 43 categories of products, mostly on religious, environmental, security, and health grounds. From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Pakistans trade with its non-Chinese regional partners has historically been below its optimal level. 2019 In 2019, Pakistan major trading partner countries for exports were United States, China, United Kingdom, Germany and Afghanistan and for imports they were China, United Arab Emirates, United States, Saudi Arabia and Indonesia . Latest Data Pakistan Exports China Exports I write on politics, culture, education and economy. The United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $6.81 billion in 2020. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. The U.S.-Pakistan Business Council, an affiliate of the U.S. Chamber of Commerce based in Washington D.C., is another forum for U.S. companies with business and investment interests in Pakistan. Below is a list showcasing 25 of Pakistan's major trading partners, countries that imported the most Pakistani shipments by dollar value during 2021. This year's "Special 301" publication of the US Trade Representative (USTR) says that more than 100 trade partners for the 2022 special report have been [] Pakistan Major Exports Goods exports totaled $2.6 billion; goods imports totaled $3.9 billion. This budgetary support package is Pakistans 19th IMF program since gaining independence. It measures the uniform tariff equivalent of the country tariff and non-tariff barriers (NTB) that would generate the same level of import value for the country in a given year. Box No. The most recent TIFA intercessional meeting was held in May 2019. International Trade Administration Foreign Direct Investment Attraction Events, Services for U.S. Companies New to Exporting, Services for U.S. Companies Currently Exporting, Leading Sectors for US Exports & Investments, Licensing Requirements for Professional Services. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). For example, Pakistan imports mineral oil from Saudi Arabia and exports meat to it. Total number of products imported by a country at the Harmonized System (HS) six digit level in any given year. During the last 25 years the exports of China to Pakistan have increased at an annualized rate of 13.5%, from $616M in 1995 to $14.7B in 2020. Pakistan-Saudi Arabia In 2020, Pakistan exported $516M to Saudi Arabia.The main products that Pakistan exported to Saudi Arabia are Rice ($97.1M), Bovine Meat ($37.9M), and Awnings, Tents, and Sails ($24.6M). As of 2018, Pakistan had an export potential of $1.6 billion for just the top 20 high potential items. On the imports side, the top 20 high potential import items from India were worth $7.0 billion. Sign up to our monthly newsletter for useful articles, tips and tricks. Pakistan imports from Saudi Arabia worth US$ 3,242 million, with a partner share of 5.39 percent. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. 1401 Constitution Ave NW Companies having business ties with Pakistan [ edit] The following is a list of companies that have business ties with Pakistan. Make an appointment Discover our packages Let's figure out how we can improve your Trade! Pakistans position in the international market, pakistan largest import from which country, Speeches of Mr. Jinnah and Dr. Allama Iqbal, Development and Promotion of Regional Languages in Pakistan, Reforms of Zulfiqar Ali Bhutto Nationalization and Land Reforms.
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