Pakistan’s Imports from Iran Surge 25% in March

Pakistan’s imports from Iran stood at $95.6 million in March 2024, up 25 percent on a year-on-year basis compared to imports of $76.4 million registered in March 2023. According to sources, Pakistan’s imports from Iran stood at $86.1 million in February 2024, signaling a month-on-month increase of 11 percent in March 2024. During the first nine of the current fiscal year (9MFY24), the imports from Iran stood at $773 million, compared to imports of $669 million reported in the same period of FY23. Sources in the Ministry of Commerce further pointed out that the Pakistan’s imports from Iran during the last three fiscal years stood at $2.17 billion. A day earlier, Pakistan and Iran on vowed to increase their annual trade volume to $10 billion over the next five years. The understanding came during a meeting between Prime Minister Shehbaz Sharif and Iranian President Seyyed Ebrahim Raisi, who is son a three-day visit to Pakistan.