Pakistan suspended trade ties with India on the eve of India repealing Article 370 and 35A. But little does the Pakistan know that it stands nowhere in the trade war with India.
United Nations Conference on Trade and Development
The 2018 UN data on bilateral trade between India and Pakistan puts latter at a loss. The total value of Indo-Pak trade is $2.8 billion but a large part of this trade is Indian export to Pakistan. It stands at $2.3 billion. India imports goods worth $500 million from Pakistan.
- India is less dependent on Pakistan for exports. Pakistan’s export to India is 1.63% of total exports. But India’s export to Pakistan is a meager 0.73%.
- Pakistan is more dependent on India for its imports. 3.9% of its imports are from India but it contributes only 0.09% in Indian import.
- Cement is the biggest commodity India imports from Pakistan. It is the only commodity accounting for more than 10% from Pakistan.
- Pakistan miserable depends on India for 40 commodities that are set to become expensive in the event of a trade war. India accounts for more than one-fourth of the total import of 17 of the 40 commodities.
- India and Pakistan would get hit with trade ban. Exporters of both the countries would have to look for markets for their products.
- India accounts for more than 10% of 26 goods in Pakistan. In the event of trade war with India, Pakistani exporters would face a severe crisis. For more information please visit our latest trending News