Despite complexes diplomatic ties between the two bordering countries, for the first time Pakistan’s annual imports from India crossed $2 billion level in the last financial year, 2013-14.
In FY 2013-14 Pakistan had imported $2.04 billion worth different items from the neighbouring country that marked the year’s highest imports from India since the partition.
Pakistan’s imports from India show a steady growth during the past three years. For example, in 2011-12 Pakistan imported goods worth 1.5 billion dollars from India.
In 2012-13 the Indian exports to Pakistan further increased to 1.81 billion dollars. Finally in 2013-14 Pakistan’s imports from India crossed the barrier of $2 billion and mounted to 2.04 billion dollars.
Pakistan’s exports to India, however, did not show any plausible growth and remained less than half a billion dollars. In 2011-12 Pakistan exported 338 million dollars goods to India, 327 million dollars goods were sold to India in 2012-13 and a slight increase in Pakistan’s exports to India was seen in 2013-14, when exports reached 407 million dollars, still far less than imports from the neighbouring country.
The foreign trade data of the Pakistan Bureau of Statistics clearly shows that the key beneficiary of the two countries trade is India and Pakistan is sustaining more than 1.5 billion dollars deficit in trade with bordering country.
In last three years, from 2011-12 to 2013-14, Pakistan had sustained 4.285 billion dollars in trade with India. During this period Pakistan imported 5.357 billion dollars goods from India, and exported there only 1.072 billion dollars goods.
Source:- thenewstribe.com
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