{"id":46492,"date":"2024-08-27T21:52:06","date_gmt":"2024-08-27T16:52:06","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=46492"},"modified":"2024-08-27T21:52:06","modified_gmt":"2024-08-27T16:52:06","slug":"transit-trade-between-pakistan-afghanistan-dropped-59-in-2023-24-heres-why","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/transit-trade-between-pakistan-afghanistan-dropped-59-in-2023-24-heres-why\/","title":{"rendered":"Transit trade between Pakistan-Afghanistan dropped 59% in 2023-24: Here\u2019s why"},"content":{"rendered":"<p>ISLAMABAD: During the fiscal year 2023-24, the transit trade between Pakistan and<a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/pakistan-demands-robust-action-from-afghanistan-against-bannu-cantt-attack-perpetrators\/\"> Afghanistan<\/a> decreased significantly by 59%.<\/p>\n<p>As per the details, Afghan imports from <a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/over-30-flights-affected-by-heavy-rain-across-pakistan\/\">Pakistan<\/a> have decreased substantially due to the federal government&#8217;s measures to curb smuggling on transit corridors. A decrease of $4.21 billion in fiscal year 2023-24.<\/p>\n<p>Afghan transit trade volume during this period was $2.89 billion, down from $7.95 billion in the previous fiscal year (2022-23). The decline continued into the first month of the new fiscal year, with July 2024 seeing an 83 percent year-on-year decline in trade, down from $583 million in July 2023 to just $9.8 million.<\/p>\n<p>According to Ahmad Jawad, Central Vice President of Pakistan Business Forum (PBF), the trade volume between Pakistan and Afghanistan decreased from $1.5-$2 billion from 2010 to 2020 to only $870 million in 2020. However, 2023 saw a slight recovery in bilateral trade, to around $1.8 billion, driven by increased Afghan exports to Pakistan, particularly coal.<\/p>\n<p>Despite this small recovery, the balance of trade has shifted heavily in Afghanistan&#8217;s Favor. During this period, Pakistan&#8217;s imports from Afghanistan increased by 62.7 percent while its exports decreased by 200 percent. This situation is driven by basic strategic, security and political factors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: During the fiscal year 2023-24, the transit trade between Pakistan and Afghanistan decreased significantly by 59%. As per the details, Afghan imports from Pakistan have decreased substantially due to the federal government&#8217;s measures to curb smuggling on transit corridors. A decrease of $4.21 billion in fiscal year 2023-24. Afghan transit trade volume during this [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":46494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[389,138,20932],"class_list":["post-46492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-afghanistan","tag-pakistan","tag-pakistan-business-forum"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/46492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=46492"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/46492\/revisions"}],"predecessor-version":[{"id":46495,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/46492\/revisions\/46495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/46494"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=46492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=46492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=46492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}