Exports to central Asia grow modestly
ISLAMABAD: Pakistan’s exports to five central Asian countries (CACs) witnessed a paltry growth of 1.09 per cent during the first four months of the current fiscal year over the corresponding period last year.
Despite the existing prospects, the country’s exports to the region have yet to attain their full potential. Similarly, imports from Tajikistan, Uzbekistan and other countries to Pakistan have not increased significantly despite regular high-profile visits.
In absolute terms, the value of Pakistan’s exports to the five central Asian countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — rose by 1.09pc to $67.11 million in July-October 2024-25 from $66.38m during the same period last year.
Imports from the region increased by $39.05m to $43.4m in 4MFY25 from $4.35m during the same period last year.
The majority of these imports came from Uzbekistan and Turkmenistan.
Despite existing prospects, bilateral trade volume has yet to attain its full potential
Pakistan’s trade with CACs is between $400 and $500m annually via Afghanistan. Uzbekistan has already implemented its transit trade agreement with Pakistan. Under the agreement, Uzbekistan has started importing goods under the transit agreement as well.
Last year, Tajikistan imported three trucks loaded with potatoes from Pakistan under the transit agreement.
Pakistan’s exports to Turkmenistan stood at $0.66m in 4MFY25 from $0.42m over the corresponding months last year, showing an increase of 57pc. Imports from Turkmenistan recorded a growth of 114pc to $3.48m during the period under review against $1.62m over the corresponding months last year.
The export proceeds to Uzbekistan reached $21.61m in 4MFY25 against $24.91m over the corresponding months last year, showing a decline of 13.25pc. Imports from Uzbekistan increased by $29.98m to $32.47m from $2.49m over the corresponding months last year.
Kazakhstan has the highest export value, with $27.96m in 4MFY25 compared to $26.22m during the same period last year, representing a 6.63pc rise.
The value of imports from Kazakhstan stood at $0.32m during the months under review against $0.13m over the corresponding months of last year.
Pakistan’s exports to Kyrgyzstan stood at $1.65m in 5MFY25 against $2.97m over the corresponding months last year, indicating a decline of 44.44pc. Imports from Kyrgyzstan stood at $0.24m against $0.06m, an increase of over 300pc.
Exports to Tajikistan stood at $15.23m in 4MFY25 against $11.86m over corresponding months last year, showing an increase of 28.39pc.
Published in Dawn, November 27th, 2024