Record increase in Pakistan’s Imports from Iran; exports remain zero

ISLAMABAD (Rizwan Abbasi): Pakistan has seen a significant rise in imports from Iran at the start of the current fiscal year, while exports to Iran have remained at zero for three consecutive years.

According to government sources, imports from Iran during the first quarter of the fiscal year (July to September 2024) reached $308.5 million, marking a 38% increase from the same period last fiscal year when they stood at $223.1 million.

In September 2024 alone, annual imports from Iran recorded a 37% increase, totaling $99.6 million, compared to $73 million in the same month last year.

Sources indicate that due to the lack of banking channels caused by U.S. sanctions, Pakistani exports to Iran remain at zero, which has disrupted the trade balance with Iran.

Despite Pakistan’s growing reliance on imports from Iran, economists have expressed concern over the lack of exports, highlighting the imbalance in trade relations.