Indo-Pak trade declines drastically in 2019-20

Indo-Pak trade declines drastically in 2019-20

Agency News

Islamabad, Jan 23 : India-Pakistan bilateral trade has again been a causality of hostility as trade volumes between the neighbours witnessed a sharp drop during the first half of 2019-20.

Data issued by the State Bank of Pakistan states that Pakistan’s exports to India during the period amounted to a mere $16.8 million which is a significant drop from $213m in the first half of 2018-19. As per the report of Dawn, Pakistan's imports from India also fell drastically, amounting to a mere $286.6m during the first half of 2019-20 as against $865m for the same period in 2018-19.

The balance of trade was overwhelmingly in India's favour as Pakistan’s trade deficit with India currently stands at $269.8m. Relations between the two countries have remained frosty and turbulent since Pulwama attack in February and the subsequent Balakot air raid on terror launch pads.

Pakistan escalated diplomatic offensive against India since the Indian Parliament amended the constitution by doing away with the Article 370 in August. (UNI)