Pak-Russia Trade Flourishes Despite Ukraine War

Despite the war between Russia and Ukraine, bilateral trade between the two countries swelled by almost $5.5 million to $28.2 million during February 2022 compared to $ 22.7 million in January.

Notably, Russia had attacked Ukraine in the last week of February. Furthermore, according to the official data, Pakistan’s exports to Russia also surged to $18.06 million in February compared to $11.25 million in January 2022. The imports from Russia narrowed from $11.5 million to $10.1 million last month compared to January 2022.

The figures show that Pakistan’s imports from Russia narrowed by threefolds, from $465 million to just $125 million, during the eight months of the current fiscal year compared to the same period of the last fiscal year. Moreover, Pakistan’s exports to Russia touched 100 million during the eight months of the ongoing fiscal year compared to $91.85 million in last year’s corresponding period.

It is pertinent to mention that the bilateral trade between Pakistan and Ukraine decreased slightly on a month-on-monthly basis declining by $7.5 million from $125 million to $117.5 million in February compared to January.

The report shows that Pakistan’s imports from Ukraine decreased by $9 million from $120 million to $111 million in February compared to January. Furthermore, Pakistan’s exports to Ukraine increased by $2 million from $4 million to $6 million during the said period.

Interestingly, Pakistani imports from Ukraine increased from $252 million to $686 million during the first eight months of the current fiscal year as compared to the same period in the last fiscal year. Furthermore, the overall trade with Europe dipped marginally by $79 million from $1.594 billion to $1.515 billion last month as compared to January 2022.



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