A list of major imports and exports of Pakistan is important to learn about the country’s economy. A country’s growth depends a lot on its export structure and infrastructure. The main focus of any government is to improve the country’s exports and decrease imports.
Why increasing exports and decreasing imports is important?
When a country imports something from outside the country, two things happen.
- The importer country uses precious foreign reserves
- The industry of the imported things is disturbed in the importer country.
On the other hand, when a country exports a good, a lot of good things happen. Citizens get a job. The cheap raw material is used to make precious goods. Foreign exchange reserve increases. These are the reasons that countries try to decrease imports and increase exports.
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Pakistan’s main trading partners
China is the main trading partner of Pakistan. It has a 17 percent share of Pakistan’s total trade. European Union is the second biggest trade partner of Pakistan with a share of 13 percent. The other trading partners of Pakistan are (arranged in order by the percentage of share):
- European Union
- United Arab Emirates
- Saudi Arabia
- United States
Major Import and Export Pakistan
Major imports of Pakistan
Pakistan imported goods of 45.8 billion dollars in the year 2020 from its importing partners. The major importing partner (arranged by the percentage of share) is China, UAE USA, UAE, and Malaysia. List of Major imports of Pakistan:
- Petroleum Products / Crude form
- Iron and steel
- Plastic goods and electrical appliances
- Industrial machinery
- Vehicles and accessories
- Mobile Phones and Laptops
- Fashion products & Furniture
- Edible oils
- Fruits and other food items
These are the top imports of Pakistan and account for more than 80 percent of Pakistan’s all imports. According to reports, Pakistan’s gross domestic product (GDP) increased by 3.5 percent in 2021. Gross domestic product means the total value of all the goods and services produced within a country.
Major exports of Pakistan
Being an agricultural country Pakistan’s main exports consist of agriculture-based products. Pakistan exports these products mainly to the USA, China, European Union, and UAE. However, due to importing refined and expensive goods while exporting raw materials and cheap goods, Pakistan faces a lot of trade deficits. Because of these trade imbalances, Pakistani currency Pakistan is slightly weaker than the others.
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Top exports of Pakistan are:
- Textile goods
- Raw cotton and its products
- Leather products
- Sports goods
- Surgical instruments
- Food items like vegetables and fruits
- Optical Instruments
- Building cement
- Chemicals including fertilizers
- Dried fruits
- Edible oils
One can say that the major goods that Pakistan exports largely consist of textiles, apparel, fruits, vegetables, and poultry products. On the other hand, most of the items that Pakistan imports are petroleum, clothing, automobiles, electrical appliances.
In terms of agriculture, the United States is a major importer of agricultural products. It has been especially helpful for Pakistan with regards to the agricultural industry because farmers got benefits from exports.
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