Pakistan’s imports from Iran surge by 47% in 2024

ISLAMABAD: Pakistan’s imports from Iran have experienced a significant increase, rising by 47 percent on a year-on-year basis, according to government sources.

From July to November 2024, the total value of imports from Iran reached $533 million, up from $398 million during the same period last year. This increase reflects a broader trend, as imports from Iran saw a 34 percent rise during the first five months of the fiscal year.

In November 2024 alone, imports from Iran surged to $129.7 million, marking a notable increase from $88.4 million in November 2023.

In addition to rising imports, Pakistan’s rice exports have also seen growth. During the first five months of the fiscal year 2024-25, rice exports increased by 35.4 percent compared to the same period last year. According to data from the Pakistan Bureau of Statistics (PBS), over 2.377 million metric tonnes of rice, including basmati and other varieties, were exported between July and November 2024, valued at $1.515 billion. This is a significant increase from 1.721 million metric tonnes valued at $1.119 billion during the same period last year.

Exports of basmati rice alone grew by 34.64 percent, totalling 370,282 metric tonnes worth $386.116 million, compared to 244,664 metric tonnes valued at $286.778 million in the previous year.