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[8] [10] Phase two of the CPFTA seeks to address these criticisms, enhance the trade relationship between the two nations, and further liberalise trade. [13] China and Pakistan aim to increase bilateral trade to US$15–20 billion by the completion of the second phase and eliminate tariffs on 75% of product lines. [8] [13]
Pakistan has been one of China's major trade partners. [71] According to China's custom statistics the bilateral trade volume for the calendar year 2017 crossed the US$20 billion mark for the first time. In 2017 China's exports to Pakistan grew by 5.9% to reach $18.25 billion whereas Pakistan's exports to China fell by 4.1% to $1.83 billion ...
The trade deficit for the fiscal year 2013/14 is $7.743 billion, exports are $10.367 billion in July–November 2013 and imports are $18.110 billion. Pakistan's exports continue to be dominated by manpower export in the subcontinent, cotton textiles and apparel.
The annual trade volume between these two countries has seen a significant increase, rising from less than $2 billion in 2002 to $6.9 billion, with an ambitious target of reaching $15 billion by 2014. Sost Dry Por is the first formal port at the China-Pakistan border.
The expansion of the Chinese economy grew 6.8% the last quarter of 2017, equaling the growth of the prior 3 months exceeding expectations of 6.7%. The overall economy expanded 6.9% last year, just beating the 6.7% of 2016 which ended a drought of a declining trend that started in 2011. [2]
On 12 March 2017, a consortium of Pakistani broker houses reported that Pakistan would end up paying $90 billion to China over a span of 30 years, with annual average repayments of $3–4 billion per year after fiscal year 2020. The report further stated that CPEC-related transportation would earn Pakistan $400–500 million per annum and could ...
Trump proclaimed his 2020 trade deal with China to be "transformative." It turned out to be an expensive flop.
Despite an extensive 1982 trade agreement, the volume of bilateral trade remains comparatively small at US$4.8 million. [375] Pakistan's total exports to Nepal are worth US$1.631 million while Nepal's exports to Pakistan tally US$3.166 million. [376]