India’s lockdown proved beneficial to Pakistan, as country rice exports to the Middle East region grew sharply.
As per details, in April Pakistan’s exports of rice to the region grew by about 59 percent to $420 million, amid lockdowns imposed by India to curb coronavirus spread.
“The Middle East is the main market of India’s basmati rice,” Muhammad Raza, senior vice chairman of the Rice Exporters’ Association of Pakistan (REAP),” quoted Arab News. “When New Delhi decided to impose the lockdown, the orders were diverted to Pakistan.”
Progress is taking place in the midst of Pakistan’s month-to-month (MoM) exports, experiencing a dramatic decline of 47.24 percent from $1.814 billion to $957 million, Pakistan’s Statistical Bureau (PBS) said in April 2020 against March 2020.
According to PBS, the country’s imports also witnessed a 6.88 percent decline from $3.316 billion to $3.088 billion during the time.
Meanwhile, the country’s trade balance also witnessed a decrease of 41.88 per cent from $1.502 billion to $2.131 billion during April-March 2020, the PBS stated.