Pakistan meets the majority of the requirements that foreign investors seek. Despite political difficulties, overseas investors are drawn to Pakistan to invest. The country’s economy is heavily reliant on imports and exports. As per statistics in the last two years, Pakistan’s economy ranks 43rd in the world in terms of GDP, 65th in total exports, and 49th in total imports in the world. In this article, we will talk about Pakistan main imports and exports, their total percentage, and the country in detail.
Pakistan Main Imports and Exports:
The main imports of Pakistan are as follows:
1. Organic Chemicals:
Among the major import categories, Organic chemical is the main import of Pakistan. Pakistan imports a variety of organic chemicals, which are used in different fields such as cosmetic, pharmaceutical, biochemical, bioengineering, and others. In 2021, organic chemicals made up around 4.1 percent of the country’s overall imports.
Pakistan imports all of its plastics from different trading countries like Asia, Saudi Arabia, the United Arab Emirates, China, and Thailand. Plastics are used in every field, from packages to machinery that making them one of Pakistan’s most important imports. Plastics accounted for over 4.1 percent of the country’s total imports last year.
3. Animal and Vegetable Oil:
Animal and Vegetable Oil is one of Pakistan’s major imports because it is a crucial component of human nutrition. Brazil, Malaysia, and Indonesia are the main import- partners for these items. Animal and vegetable oil imports accounted for 4.9 percent of all imports in 2021, with a total value of $3.60 billion.
4. Mineral Fuels and Oil:
Mineral fuels and oils are one of the major imports of Pakistan due to the country’s massive population. United Arab Emirates, Saudi Arabia, South Africa, Qatar, and Kuwait are Pakistan’s major import partners for mineral fuels and oils. These imports account for over a quarter of the country’s total imports, reaching $19.3 billion in the previous year 2021.
5. Pharmaceutical Products:
Pharmaceutical products are one of the county’s major exports and Pakistan has one of the world’s largest pharmaceutical markets. Pakistan imports most of its pharmaceuticals from Western European countries including France, Germany, India, Switzerland, and Belgium. Pharmaceuticals account for over 5.2 percent of total imports, with a projected value of $3.78 billion in the previous year.
Pakistan Main Exports:
Here is the list of Pakistan’s main export that is the most profitable for the country’s economy.
Pakistan is one of the major exporters of cotton in the world. Cotton is exported from Pakistan to China, Germany, the United States, the United Kingdom, France, Russia, Italy, Spain, Canada, Brazil, Australia, and the Netherlands, among others. Pakistan accounts for 33,683 metric tons of cotton fiber, spun, and raw cotton, worth an estimated $55.551 million last year. During 2017 and 2018, $8.793 billion in textile products stitched garments, knitwear, cotton clothing, bedsheets, and towels were exported.
Pakistan is regarded as the second-largest exporter of rice in the world. Rice is a significant part of the country’s export revenues because Pakistan is known for producing high-quality basmati rice. Pakistan subsequently exports rice to different countries such as Oman, the United Arab Emirates, Kenya, Thailand, Jordan, and much more. As per statistics in 2018, the country exported approximately 3 million metric tons of rice for US$1.224 billion.
Fruits are also the second main export of the country and Pakistan is known as the world’s fifth-largest mango manufacturer. Chaunsa, Sindhri, Langra, Dasehri, Anwar Ratool, Saroli, Toota Pari, Fajri, Neelum, Almas, Sanwal, and Desi are among the 110 varieties of mangoes grown in Pakistan each year. Pakistan exports mangos to different important importer countries such as Iran, China, the Middle East, Japan, Hong Kong, and Germany.
4. Surgical Instruments:
Surgical Instruments are another valuable addition to Pakistan’s main exports. There are almost 3,600 companies working in Pakistan to produce the highest quality surgical and dental equipment. They also produced a wide range of other precision tools using the finest raw materials and adhering to the highest standards. Pakistan exports surgical instruments to different countries like the United States, the United Kingdom, Germany, Brazil, France, Australia, and Russia.
5. Sea Food:
Pakistan is also a major exporter of seafood throughout the world. Pakistan exports a heavy quantity of fresh and frozen shrimp and prawns each year to several countries all over the world. The country exported $264.18 million worth of fish to different counties including the European Union and China.
6. Leather Goods:
Leather and leather goods are one of the major exports of Pakistan because of the most profitable exports. Pakistan exports a variety of leather products such as leather bags, coats, pants, shoes, and other everyday wear products. Pakistan exports leather goods mainly to countries Russia, Italy, France, Canada, the United Kingdom, the United States, Spain, the Netherlands, Australia, and Brazil.