US sanctions on Iran ended Pakistani exports to Iran.
In line with sources, for the third consecutive monetary 12 months, Pakistani exports to Iran remained zero and imports elevated. Through the fiscal 12 months 2021 to 2023, Pakistani exports to Iran remained zero.
Sources say that non-availability of banking channels resulting from American sanctions is the principle cause for exports remaining zero, whereas Pakistan’s imports from Iran elevated additional final fiscal 12 months.
In line with the sources of the Ministry of Commerce, over the last three years, Pakistan’s imports from Iran have been 2 billion 17 million {dollars}. In fiscal 12 months 2021, Pakistan’s imports from Iran have been 513.6 million {dollars}, whereas in fiscal 12 months 2022, the amount of imports was 773.eight million {dollars}, and in fiscal 12 months 2023, imports from Iran elevated to 880 million {dollars}.
In line with the sources, Pakistan’s exports to Iran in fiscal 12 months 2020 have been solely 10 thousand {dollars}, whereas in fiscal 12 months 2019, the amount of exports to Iran was 12.four million {dollars}, and in fiscal 12 months 2018, Pakistani exports have been 22.9 million {dollars}.
