I write on politics, culture, education and economy. Ambassador, Maciej Pisarski, conveyed his pleasure towards growing the trade volume between the two countries as Poland had become Pakistan's 7th largest trading partner in the EU and it's in FY- 2021-22 total bilateral trade reached around USD 506.6 million. Pakistan's Trade with its Regional Partners: India, Iran & Afghanistan Companies having business ties with Pakistan [ edit] The following is a list of companies that have business ties with Pakistan. Total number of products exported by a country at the Harmonized System six digit level in any given year. 1293, Shahrah-e-Faisal, Karachi 75200 Pakistan. Pakistans share is less than one percent of total global exports. Pakistan's imports 2020 by country . While sugar, petroleum products, wheat and rice are the top exports to Afghanistan, Pakistan imports grapes, apples, coal and cotton from Afghanistan. Pakistan is currently our 56th largest goods trading partner with $6.6 billion in total (two way) goods trade during 2019. Afghanistans total imports in 2018 amounted to $5.67 billion while exports were worth $1.08 billion leading to a trade deficit of $4.59 billion. Goods exports totaled $2.6 billion; goods imports totaled $3.9 billion. DHL PAKISTAN PRIVATE LIMITED 320816 GERRYS INTERNATIONAL PRIVATE LIMITED 151778 M S PENTA COURIERS 85142 ADIDAS INTERNATIONAL TRADING AG C O ADIDAS AG 72802 Pakistan shipment record 29.8M Shipment records available Obtain Detailed Contact Information If you are looking to establish relationship with the Pakistan buyers, save time by getting A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. Defense equipment and machinery i.e. India is a large economy to the East of Pakistan. LPI 2016 ranks 160 countries on six dimensions of trade -- including customs performance, infrastructure quality, and timeliness of shipments -- that have increasingly been recognized as important to development. The Islamic Republic of Pakistan (Pakistan) shares land borders with 4 countries; Afghanistan, China, India and Iran. Global Insights . Top trading partners (import sources) of Pakistan in 2020: China with a share of 27% (12.4 billion US$) United Arab Emirates with a share of 9.77% (4.47 billion US$) USA with a share of 5.64% (2.58 billion US$) Indonesia with a share of 5.25% (2.4 billion US$) Pakistan is a member of the Multilateral Investment Guarantee Agency (MIGA), an arm of the World Bank. Hundreds of local firms represent U.S. companies in the market. In 2017 (latest available rankings), Pakistan was the UK's: 53rd largest trading partner (accounting for 0.2% of total UK trade) 54th largest export market (accounting for 0.2% of all. For example, of the 11 original crops for which AMS was computed for 1986-88, eligible production was assumed to be . On the external front, Pakistan is facing a substantial trade deficit and balance of payments issues. More information about the PBC, its members, objectives, activities and a soft-copy of this report can be found on our website: www.pbc.org.pk, General Economic Initiatives and Advocacy. Harmonized System 1988/92, SITC Revision 2. However, the revenue collection by FBR fell short by $1.54 billion from the actual target for FY2021 $32.02 billion, which has hindered the governments ability to maintain a balance of payments position and stable exchange rate and has caused high inflationary pressure on essential consumer products. Here Saudi Arabia becomes a trading partner of Pakistan. 1) Mirror Exports is considered for export data 2) All products at HS 6 digits are considered 3) Computation is performed at Country-Product level and aggregated to country level, Annual percentage growth rate of the worlds trade value (export or import), by sector, at market prices in current U.S. dollars, 1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year, Annual percentage growth rate of the countrys trade value (export or import), by sector, at market prices in current U.S. dollars. For investors, the market has few restrictions on the movement of capital for foreign companies, no shareholding restrictions (beyond a few sensitive industry sectors), simple work-permit rules, no technology transfer requirements, and a large and sophisticated entrepreneurial class. Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Economic Complexity Competitive Landscape Year In other words, the countries with whom a country does exports and imports are called its trading partners. Washington, DC 20230. The most recent TIFA intercessional meeting was held in Islamabad in May 2019. Please note this indicator is not cross country comparable. Due to limited exports both in terms of quality and quantity coupled with ever-increasing imports, the country has been facing the issue of a trade deficit from day one. Both nations need to improve trade facilitation through streamlined payments . The LPI uses standard statistical techniques to aggregate the data into a single indicator that can be used for cross-country comparisons. Machinery i.e. Pakistan to enhance trade ties with EU - The Frontier Post The United States was Pakistans largest export market in 2020 at $3.9 billion, a 0.5 percent decrease from the previous year. The time has come for a review of the implementation of the 2006 Trade Agreement between Pakistan and China. Includes the barriers (tariff and non-tariff) that U.S. companies face when exporting to this country. Trade between Pakistan and Iran is very limited. The most recent TIFA intercessional meeting was held in May 2019. International Trade Administration Pakistan Major Exports Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita, Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$), Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD, Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP), Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS. +92-21-111-444-111 Product Categories Agriculture Beverages and Confectionaries Cereals and Nuts Dairy Products Dry Fruits Afghanistan Major Trade Partners - Countryaah.com Like other global economies, Pakistan is facing an economic slowdown due to the global pandemic. We work closely with Pakistan on a wide array of issues ranging from energy, trade and investment, health, clean energy and combating the climate crisis, to Afghanistan stabilization and counterterrorism. It measures the uniform tariff equivalent of the country tariff and non-tariff barriers (NTB) that would generate the same level of import value for the country in a given year. I am a social activist and educationist. Share sensitive information only on official, secure websites. ISLAMABAD: Pakistan is among twenty trading partners which have been placed on the 'watch list' of the US government. Pakistan also bans the import of live . In dollar terms 3, product-specific AMS levels have fallen sharply.For example, the level in 1996/97 was only 11 percent that of 1986-88, and 22 percent in 1997/98. Latest trade data available from various sources. crude); preparation, Petroleum oils and oils obtained from bituminou, Palm oil (excl. jets fighters, combat vehicles, and their spare parts. Pakistan (PAK) and Saudi Arabia (SAU) Trade | OEC Pakistan among 20 trading partners placed on US 'watch list' This year's "Special 301" publication of the US Trade Representative (USTR) says that more than 100 trade partners for the 2022 special report have been [] It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year. Please note: The data from various sources are not from the same year. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. AGRICULTURE, TRADE AND FOOD: COUNTRY CASE STUDIES - Volume II Pakistan's 2016 Import Policy Order bans the import of 43 categories of products, mostly on religious, environmental, security, and health grounds. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. HS Nomenclature used HS 1988/92 (H0) HS Code 390730: Epoxide resins; in primary forms Please note: Exports is gross exports and Imports is gross imports The United States is one of Pakistan's largest trading partners and continues to be one of the leading sources of foreign direct investment. Regional trade has proven to be a key tool in economic development and competitiveness in various regions of the world, however trade amongst the countries of South Asia has traditionally remained low. Pakistan Trade | WITS Data - World Bank Exports from the United States to Pakistan reached $2.91 billion in 2020, a 10 percent increase over $2.64 billion in 2019. Latest Data Pakistan Exports China Exports The second lists top trade partners of Afghanistan regarding import total (buying). Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. Your email address will not be published. 2019 In 2019, Pakistan major trading partner countries for exports were United States, China, United Kingdom, Germany and Afghanistan and for imports they were China, United Arab Emirates, United States, Saudi Arabia and Indonesia . The most recent TIFA intercessional meeting was held in Islamabad in May 2019. The second lists top trade partners of Pakistan regarding import total (buying). This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). Foreign Direct Investment Attraction Events, Services for U.S. Companies New to Exporting, Services for U.S. Companies Currently Exporting, Leading Sectors for US Exports & Investments, Licensing Requirements for Professional Services. United States: US$6.1 billion (21.1% of total Pakistani exports) China: $3 billion (10.5%) These countries, however, merit . The values shown are midyear estimates. HS Code Export USD$ (63) Textile Articles: $4,058,657,509 (52) Cotton: Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003, which provides a forum for discussion of bilateral trade issues. Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003, which provides a forum for discussion of bilateral trade issues. Pakistan | United States Trade Representative Trade assesses how the policy framework fosters trade in goods. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. As of 2018, India had a trade deficit of $185.0 billion with exports amounting to $323.0 billion and imports clocking in at $508.0 billion, a historic high. The United States was Pakistan's largest export market in 2018 at $3.71 billion, a 3.9 percent increase over the previous year. Pakistan Trade Partners, Peshawar, Pakistan. Pakistan's Top Trading Partners 2021 Changs, IHOP, D&B, Eli Lilly, Excelerate Energy, Enercon and Caterpillar among many other U.S companies. Trading partners are those countries with whom a country does foreign trade. Cereals and man-made staple and cotton fibers. Trade Development Authority of Pakistan 5th Floor, Block A, Finance & Trade Centre P.O. 20 likes. The trade surplus for Iran in 2018 was $25.6 billion. Pakistan Trade House - Trusted Business Channel Partners 1) Product 'Total' is used for this computation. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. Pakistans trade with its non-Chinese regional partners has historically been below its optimal level. USA.gov|FOIA|Privacy Program|EEO Policy|Disclaimer|Information Quality Guidelines |Accessibility, Official Website of the International Trade Administration, Comply with U.S. and Foreign Export Regulations. Economic Policy & Debt: Balance of payments: Current account: Goods, services & income. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Afghanistan registers trade surplus with Pakistan: report Despite security threats and familiar emerging market concerns over intellectual property rights, contract enforcement, and economic & governance issues, the Pakistan market offers many attractive trade and investment opportunities. Data are in current U.S. dollars. The United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $6.81 billion in 2020. The document shows that Pakistani exports to Russia fell from $31.11 million to $19.96 million while exports . A locked padlock ) or https:// means youve safely connected to the .gov website. Since Afghanistans reported trade figures are incomplete, for the purpose of this report, mirror data has been used for calculating Afghanistans trade numbers. Federal Board of Revenue (FBR) achieved tax collection target for FY2021 by collecting $30.5 billion against the revised target of $30.3 billion. Tariffs can be based on the Applied tariffs, which takes into account the bilateral trade preferences, The ad valorem equivalent of NTB were estimated by Kee, Nicita and Olarreaga (EJ, 2009), The OTRI captures the trade policy distortions that each country imposes on its import bundle. Cambridge University Scholarship 2023-2024, Fully Funded Scholarships 2023 for international Students, Masters Scholarships 2023-2024 | Scholarship Application process, Japukay, An Ancient Village of Punial, Ghizer, Gilgit-Baltistan, Hungary Government Scholarships 2023-2024 for international Students, Fully funded Italy Scholarships 2023-2024. Open for Applications, Swiss Government Excellence Scholarships 2023-2024 | Study in Switzerland, Top Scholarships in Europe 2023-2024 | For the International Students, Language And Literature Development Under Akbar, Contribution of Mughals in Promotion of Literature, Mughal Policy of Religious Toleration and Integration. Do you have competitive product (s) / service (s)? See also Pakistan's Top Trading Partners, Pakistan's Top 10 Imports and Top Asian Export Countries Research Sources: Central Intelligence Agency, The World Factbook Country Profiles. As of 2018, Pakistan had an export potential of $1.6 billion for just the top 20 high potential items. As of 2018, the untapped export potential for Pakistan to Afghanistan for its top 20 products was $354.0 million while the import potential for Pakistan from Afghanistan for the top 20 potential imports amounted to $56.0 million. The United States and Pakistan have a strong economic and commercial relationship, with two-way trade reaching approximately $6.81 billion in 2020. (Kyrgyzstan, Uzbekistan, Russia, Belarus, Kazakhstan, Tajikistan & Poland). Pakistan Trade Statistics. From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Pakistan | Imports and Exports | World | ALL COMMODITIES - TrendEconomy Below is a list showcasing 25 of Pakistan's major trading partners, countries that imported the most Pakistani shipments by dollar value during 2021. It measures the uniform tariff equivalent of the country tariff and non-tariff barriers (NTB) that would generate the same level of import value for the country in a given year. Nuclear plants, hydroelectric power plants, etc. Trade Statistics - Trade Development Authority of Pakistan (TDAP) Pakistan and the United States signed a Trade and Investment Framework Agreement (TIFA) in 2003, which provides a forum for discussion of bilateral trade issues. This budgetary support package is Pakistans 19th IMF program since gaining independence. In 2018, exports stood at $66.6 billion while imports amounted to $41.1 billion. All rights reserved. Total Import/Export Value in thousands of US Dollars current value. On the imports side, the top 20 high potential import items from India were worth $7.0 billion. Number of countries to whom a particular country exports data in any given year. Box No. Imports The top imports of Pakistan are Refined Petroleum ($3.87B), Petroleum Gas ($2.24B), Palm Oil ($2.15B), Crude Petroleum ($1.92B), and Raw Cotton ($1.68B), importing mostly from China ($14.7B), United Arab Emirates ($5.34B), United States ($2.78B), Indonesia ($2.43B), and Saudi Arabia ($1.8B). On the import side, the top 20 items had an import potential of $7.2 billion. 1) AllDoing Business 2018rankings have been recalculated to reflect changes to the methodology and revisions of data due to new information. Trading partners are those countries with whom a country does foreign trade. The U.S.-Pakistan Business Council, an affiliate of the U.S. Chamber of Commerce based in Washington D.C., is another forum for U.S. companies with business and investment interests in Pakistan. The PBCs research-based advocacy supports measures which improve Pakistani industrys regional and global competitiveness. Pakistan does not play a major role in the international market in terms of exports. Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. Last Published: 7/10/2019. During 2020, Pakistan had a large net trade with United States in the exports of Textiles ($3.18B), Animal Hides ($142M), and Miscellaneous ($123M). Pakistan (PAK) Exports, Imports, and Trade Partners | OEC In 2019, the federal government entered a 39-month extended arrangement with the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) for an estimated $6 billion bailout package. Economic Policy & Debt: National accounts: Shares of GDP & other. A .gov website belongs to an official government organization in the United States. Pakistan's average unemployment rate was an estimated 7.4% for 2021 up from an average 4.4% in 2020, according to metrics from the International Monetary Fund. automobiles, ships, boats, etc. Economic Policy & Debt: National accounts: US$ at current prices: Aggregate indicators. When it comes to imports, Pakistan stands at the top of the list of the countries that heavily rely on imports. United States (USA) and Pakistan (PAK) Trade | OEC Pakistan imports from Saudi Arabia worth US$ 3,242 million, with a partner share of 5.39 percent. Pakistan's Top 10 Exports 2021 - World's Top Exports Amin Ahmed Published April 29, 2022. For India NTM's in Chapter A and B are not covered. printed, knitted or, Toilet linen and kitchen linen, of terry fabric, Petroleum oils, etc, (excl. Irans global trade has been negatively impacted by U.S. sanctions. Pakistan has a Free Trade Agreement with China and is also integrated under the China-Pakistan Economic Corridor (CPEC). Higher customer satisfaction through EI training, Delivery Order Received & Product Dispatched, Introduction to Retailers, Distributers & SMES, Custom Reporting Channel for best results. Internally, the Federal Board of Revenue (FBR) reported Rs.4,732 billion ($28.33 billion) in tax collections, 18 percent higher over the previous fiscal year. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Afghanistan registered trade surplus with Pakistan Zara Johnson & Johnson FedEx HSBC Vodafone H&M Porsche Bosch Nestle Nissan Serena Hotels Cisco BP Pepsi Allianz Total Siemens UPS Intel Honda The Future of Afghanistan-Pakistan Trade Relations Pakistani trade with Russia and Ukraine also decreased mainly due to the Ukraine war. According to the ABC, these companies have collectively invested over $1.5 billion in Pakistan and their cumulative annual revenue totals approximately $4 billion. During the last 25 years the exports of Pakistan to Saudi Arabia have increased at an annualized rate of 5.19%, from $146M in 1995 to $516M in 2020. While sugar, petroleum products, wheat and rice are the top exports to Afghanistan, Pakistan imports grapes, apples, coal and cotton from Afghanistan. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. Pakistan imports from China worth US$ 14,545 million, with a partner share of 24.18 percent. Pakistan Trade House is a company specialized in exporting, importing, and third-country trading in goods and services produced or provided by other parties and which provide related services to these activities.
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