Pakistan has seen a notable surge in imports from Iran, marking a significant shift in the trade relations between the two countries. According to government reports, Pakistan’s imports from Iran have risen by 47% in 2024 compared to the previous year. From July to November 2024, Pakistan imported goods worth $533 million from Iran, a substantial increase from $398 million during the same period in 2023.
November 2024 was a particularly strong month, with imports reaching $129.7 million, up from $88.4 million in November 2023. This indicates not only a rise in overall imports but also a continued demand for Iranian products in Pakistan. Over the first five months of the fiscal year, imports from Iran increased by 34%, demonstrating a steady flow of trade between the two nations.
In addition to the rise in imports from Iran, Pakistan’s rice exports have also seen impressive growth. The country’s rice exports have surged by 35.4% in the first five months of the fiscal year 2024-25 compared to the same period last year. According to data from the Pakistan Bureau of Statistics (PBS), over 2.377 million metric tons of rice, including both basmati and non-basmati varieties, were exported between July and November 2024.
These exports were valued at $1.515 billion, a significant jump from 1.721 million metric tons worth $1.119 billion in 2023. The export of basmati rice alone has increased by 34.64%, with 370,282 metric tons valued at $386.116 million exported in the first five months of the current fiscal year. This is a notable rise from 244,664 metric tons valued at $286.778 million during the same period last year.
Exports of non-basmati rice have also risen sharply, with more than 2 million metric tons exported, generating $1.129 billion in revenue. This marks an increase from 1.476 million metric tons worth $832.523 million during the same period in 2023. The boost in rice exports is largely driven by growing demand in international markets, particularly in Saudi Arabia, which has become an important market for Pakistani rice.
Overall, Pakistan is experiencing a period of economic growth driven by a surge in imports from Iran and a steady rise in rice exports. These factors highlight the country’s expanding role in the global economy, its growing trade relationships with Iran and other countries, and its increasing influence in international markets.
