ISLAMABAD: Bilateral trade between Pakistan and Afghanistan recorded a decline of 16 percent year-on-year (Y-o-Y) bases in December 2023 as compared to the corresponding month last year.
However, on a month-on-month (M-O-M) basis, the bilateral trade between the two neighboring countries saw a 28 percent increase in December 2023 as compared to the previous month. According to details received from the Bureau of Statistics, the bilateral trade between Pakistan and Afghanistan was valued at $125.2 million last month.
As the exports from Pakistan to Afghanistan are concerned, it was recorded $86.4 million in December, having a decline of 7 percent Y-o-Y bases from $92.7 million recorded in December 2022 and a 22 percent decline on M-o-M bases from the total exports of $111 million in November 2023.
In imports, it recorded a decline of 39 percent in December 2023 on M-o-M bases and 32 percent on Y-o-Y bases to $38.8 million.
Experts believe the recent significant decline occurred due to the recent political turmoil, economic challenges, and diplomatic tension between the two countries.
Steps Need to Improve Pakistan-Afghanistan Trade
It is worth mentioning here that Prime Minister of Pakistan Anwaar-ul-Haq Kakar chaired a high-level meeting in Islamabad on Monday regarding issues and challenges related to Afghan Transit Trade. The Prime Minister also directed the concerned authorities to take immediate steps to control the transit of goods by illegal means to support the smooth and legal passage of goods between the two sides.
