Pakistan-Iran Trade Sees Boost as Imports Surge 25% in March

In a positive development for bilateral trade, Pakistan imports from Iran have seen a substantial increase of 25% in March 2024, reaching $95.6 million compared to $76.4 million in March 2023.

This surge in imports comes as Pakistan and Iran have agreed to increase their annual trade volume to $10 billion over the next five years.

According to sources, Pakistan’s imports from Iran have been steadily increasing, with a month-on-month rise of 11% in March 2024, from $86.1 million in February 2024.

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During the first nine months of the current fiscal year (9MFY24), Pakistan’s imports from Iran stood at $773 million, compared to $669 million in the same period of FY23.

The increase in trade between the two nations is a result of efforts to strengthen economic ties and boost bilateral trade.

In a recent meeting, Prime Minister Shehbaz Sharif and Iranian President Seyyed Ebrahim Raisi agreed to enhance trade cooperation and increase the annual trade volume to $10 billion over the next five years.

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This development is expected to have a positive impact on the economy and trade relations between Pakistan and Iran.

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