US sanctions on Iran have ended Pakistani exports
US sanctions on Iran ended Pakistani exports to Iran.
According to sources, for the third consecutive financial year, Pakistani exports to Iran remained zero and imports increased. During the fiscal year 2021 to 2023, Pakistani exports to Iran remained zero.
Sources say that non-availability of banking channels due to American sanctions is the main reason for exports remaining zero, while Pakistan’s imports from Iran increased further last fiscal year.
According to the sources of the Ministry of Commerce, during the last 3 years, Pakistan’s imports from Iran were 2 billion 17 million dollars. In fiscal year 2021, Pakistan’s imports from Iran were 513.6 million dollars, while in fiscal year 2022, the volume of imports was 773.8 million dollars, and in fiscal year 2023, imports from Iran increased to 880 million dollars.
According to the sources, Pakistan’s exports to Iran in fiscal year 2020 were only 10 thousand dollars, while in fiscal year 2019, the volume of exports to Iran was 12.4 million dollars, and in fiscal year 2018, Pakistani exports were 22.9 million dollars.