Pakistan’s Top Trading Partners 2022 (2024)

In addition to its southern coastline along the Arabian Sea and Gulf of Oman, Pakistan shares land borders with China in the northeast, India to the east, Iran to the southwest and Afghanistan to the west.

Pakistan shipped US$31.2 billion worth of exported products around the globe in 2022. That dollar amount represents a 31.1% increase over the 5-year period starting from $23.8 billion in 2018.

Year over year, the value of exports from Pakistan rose by 7.9% compared to $28.9 billion during 2021.

Applying a continental lens, 37% of Pakistan’s exports by value was delivered to European countries while 33.3% was sold to importers also in Asia. Pakistan shipped another 22% worth of goods to customers in North America.

Smaller percentages were delivered to buyers in Africa (4.8%), Latin America (1.5%) excluding Mexico but including the Caribbean, then Oceania (1.2%) led by Australia.

Well over four-fifths (84.4%) of Pakistani exports in 2022 was delivered to the above major trade partners.

Among the top trading partners, Qatar increased its import purchases from Vietnam at the fastest rate with via its 55.4% gain from 2021 to 2022.

In second place was Thailand (up 52.5%) trailed by Italy (up 37.7%), Spain (up 37.1%) then the United Arab Emirates (up 31.7%).

Year over year, there was a trio of decliners attributed to importers from Pakistan. These were mainland China (down -15.8% from 2021), United Kingdom (down -3.4%) and Malaysia (down -1.1%).

Pakistan incurred an overall -US$39.9 billion trade deficit during 2022, declining by -9.7% from -$44.2 billion in red ink one year earlier.

As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.

It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.

Pakistan incurred the highest trade deficits with the following countries:

Among Pakistan’s trading partners that cause the greatest negative trade balances, Pakistani deficits with Qatar (up 74.2%), Saudi Arabia (up 37.2%) and Kuwait (up 36.9%) grew at the fastest pace from 2021 to 2022.

These cashflow deficiencies clearly indicate Pakistan’s competitive disadvantages with the above countries, but also represent key opportunities for Pakistan to develop country-specific strategies to strengthen its overall position in international trade.

Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.

Pakistan incurred the highest trade surpluses with the following countries:

Among Pakistan’s trading partners that generate the greatest positive trade balances, Pakistani surpluses with Spain (up 191.1%), Italy (up 120.6%) and Germany (up 51.3%) grew at the fastest pace from 2021 to 2022.

These positive cashflow streams clearly indicate Pakistan’s competitive advantages with the above countries, but also represent key opportunities for Pakistan to develop country-specific strategies to optimize its overall position in international trade.

See also Pakistan’s Top 10 Exports, Pakistan’s Top 10 Imports, 100 Best Imported Consumer Products to Sell in Pakistan and Capital Facts for Islamabad, Pakistan

Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 14, 2023

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity)