Pakistan records 67% increase in exports to Afghanistan

Pakistan has achieved a milestone by recording a 67 percent increase in exports to Afghanistan, sources within the finance ministry said on Friday.

Sources said the flow of Pakistan’s exports to the neighbouring country witnessed a substantial surge in 11 months of the outgoing fiscal year. 

The authorities observed a 67 percent increase in exports to Afghanistan on a year-on-year (YoY) basis in May. Similarly, from July 2023 to May 2024, Pakistan saw a 9.1 percent increase in exports.

Moreover, in May 2024, the total volume of exports from Pakistan to Afghanistan expanded to $118.8 million against $71.3 million in the corresponding year 2023.

Exports to Afghanistan from July 2023 to May 2024 were $98.99 million, which is slightly higher than $90.69 million last year.

However, the country imported items of $51.61 million from Afghanistan, showing a significant decline in imports, which was $83.17 million in the previous year. 

Following the revision of the Afghanistan-Pakistan Transit Trade Agreement (APTTA), the flow of cross-border cargo increased. The agreement of trade between the two sides expired in 2010 and was revived in 2021 after the Taliban returned to power.

Pakistani and Afghan business leaders had welcomed the agreements and said it would help normalise transit and trade relations.