Pakistan’s imports from Iran up by 16% during current FY

Pakistan’s reliance on imports from Iran has increased during the ongoing fiscal year (FY), reported 24NewsHD TV channel on Sunday.

According to sources, imports from the neighbouring country went up by 16 per cent in the first six months of the current FY (from July 2023 to December 2023) as goods worth over $480 million were imported during the period under review compared with the corresponding period last year when imports from Iran stood at over $420 million.

On the other hand, 13 per cent increase in imports on a yearly basis was recorded in December, 2023.

Sources informed that in December, 2023, the volume of Pakistan’s imports from the Gulf country stood at over $80 million, while during the same period last year, it was over $70 million.

Only recently both Pakistan and Iran have agreed on a five-year programme to increase cooperation in trade.

Under the plan, both the countries want to enhance bilateral trade to $5 billion by 2028.

Reporter: Waqas Azeem