Pakistan’s reliance on imports from Iran increases

Reports suggest that in Sep 2024 alone, imports from Iran grew by 37pc yearly, with a total import volume Of $99.6 million.

The sources from the Government claim that in Sep 2023, imports from Iran were valued at $73 million.

For the last three consecutive fiscal years, Pakistani exports to Iran remained nil due To the lack of banking channels, which was a consequence Of U.S. sanctions, sources report.

Back in April of this year, Pakistan’s imports from Iran increased by 16pc in the first nine months of 2024 compared to the same period last year to reach $286 million, the sources within the Ministry of Commerce said.

According to the sources within the ministry, Pakistan imported $247 million of goods from the Islamic Republic of Iran during July-March 2023-24.

As reported, Pakistan’s imports from Iran in March also increased by 25 percent to stand at $95.6 million; the imports in January and February stood at $104.2 million and $86.2 million, respectively.

Earlier this year, Iran expressed interest in boosting imports with Pakistan importing meat, rice and other agricultural products.