Islamabad :US sanctions have created significant hurdles for Pakistan’s exports to Iran, with recent data revealing that Pakistan’s exports to Iran amounted to a mere $20,000 in the last fiscal year. Meanwhile, Pakistan’s reliance on imports from Iran has increased, surpassing $1 billion during the same period.
Media reports highlight a stark disparity in trade figures: while exports to Iran remain negligible, Pakistan’s imports from the neighboring country have steadily risen over the years. Government sources attribute the decline in exports to the lack of banking channels, a direct consequence of US-imposed sanctions on Iran.
Over the past five years, Pakistan’s total exports to Iran have been just $130,000. In contrast, the country’s imports from Iran have reached a cumulative $3.65 billion during the same period.
In fiscal year 2019-20, Pakistan’s exports to Iran were recorded at just $10,000, with no exports at all in 2020-21 and 2021-22. Exports briefly rose to $100,000 in 2022-23 but remain drastically low.
On the import side, Pakistan imported $440 million worth of goods from Iran in 2019-20, increasing to $518.6 million in 2020-21, and further to $773.8 million in 2022-23. The last fiscal year saw imports reach $880 million.
The widening trade imbalance underscores the challenges posed by US sanctions, which have restricted Pakistan’s ability to establish viable banking mechanisms for trade with Iran.
