The trade imbalance between Pakistan and nine members of the Shanghai Cooperation Organization (SCO) increased from $8.298 billion to $11.703 billion in FY24, a more than 41% increase. This growth is mostly the result of significant increases in imports from Russia, China, and India.
SCO heads of state are now in Islamabad for the 25th summit, which aims to strengthen multilateral cooperation on important topics like climate change, economic cooperation, and terrorism.
Pakistan’s exports to the SCO nations—China in particular—grew significantly in FY24. Exports overall increased by 32.4% to $3.076 billion from $2.323 billion in FY23 to the nine nations, which include India, Iran, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, and Belarus.
