Pakistan's imports from Iran rises by 16pc in FY2023-24

Pakistan’s imports from Iran increased by 16 per cent in the first nine months of 2024 compared to the same period last year to reach $286 million, the sources within the Ministry of Commerce said.

According to the sources within the ministry, Pakistan imported $247 million of goods from the Islamic Republic of Iran during July-March 2023-24.

As reported, Pakistan’s imports from Iran in March also increased by 25 percent to stand at $95.6 million; the imports in January and February stood at $104.2 million and $86.2 million, respectively.

Iran was Islamabad’s ninth source of imports in the mentioned period. Sources further said, that during the last three fiscal years, Pakistan’s imports from Iran were ZERO, which have witnessed an increase in the 2023-24 fiscal year.

Iranian President Ebrahim Raisi is currently in Pakistan on a three-day visit.

Read more: Iranian president says he wanted to address ‘public gathering’ in Pakistan

Islamabad and Tehran on Monday signed a total of eight accords on varying subjects to enhance cooperation in different fields including trade, science technology, agriculture, health, culture, and judicial matters.

The documents were signed between the two countries on the occasion of Iranian President Ebrahim Raisi’s three-day official visit to Pakistan.

Prime Minister Muhammad Shehbaz Sharif and President Raisi witnessed the ceremony as the representatives from both sides signed the documents.