Pakistani exporters have failed to maintain their market share with important trading partners including China, Malaysia, the United Kingdom, and the United Arab Emirates despite the Free Trade Agreements (FTAs) and other deals.
A document of the Ministry of Commerce, available with ProPakistani, shows that Pakistani exports to some major trading partners decreased during the first quarter of the current fiscal year as compared to the same period of the last fiscal year.
According to the document, Pakistani exports to China decreased by $58 million to $501 million from $559 million during the first quarter of the current fiscal year as compared to the same period of the last fiscal year. The Pakistani exporters only sold their goods worth $168 million in the Chinese market during Sept 2022 as compared to $220 million during the same month of the last fiscal year.
There was also no pleasant news from the Malaysian market for Pakistani exporters despite the FTA. Pakistani exports to Malaysia declined by $12 million to $71.45 million from $83.34 million during 1QFY23 as compared to the same period last year. The exports remained limited to $21.63 million during September 2022, compared to $27.85 million during the same month of the last fiscal year.
Pakistani exports to Singapore were down by $21 million to $36 million from $57 million during 1QFY23 as compared to 1QFY22. In September 2022, Pakistani exports to Singapore stood at $10 million, compared to $20.36 million in Sept 2021.
The volume of Pakistani exports to the UAE also decreased during the period under review. The exporters sold their goods worth $370 million during 1QFY23, compared to $407 million during 1QFY22.
The exports to the United Kingdom from Pakistan also decreased during the period. The data shows that Pakistani exports to the UK decreased by $30 million from $549.8 million to $519.9 million during 1QFY23 as compared to the same period of the last fiscal year.
Pakistani trade with Russia and Ukraine also decreased mainly due to the Ukraine war. The document shows that Pakistani exports to Russia fell from $31.11 million to $19.96 million while exports to Ukraine decreased to $2.956 million from $14.89 million during 1QFY23 as compared to 1QFY22.
Exports to Norway decreased from $16.1 million to $15.2 million, Hong Kong from $54.46 million to $53 million, Kuwait from $30.71 million to $26.13 million, and New Zealand from $12.8 million to $11.99 million during the period under review.
