Imports of Pakistan

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Assignment of Macroeconomics

Topics

What are The major Imports of pakistan?
and
For What purpose Pakistan Imports goods?

Submitted by

Muhammad Younus
1010-BBA63

Imports

An import is any good or service brought into one country from another country in a legitimate fashion, typically for use in trade. Import goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country. Imports, along with exports, form the basis of international trade. Import of goods normally requires involvement of the Customs authorities in both the country of import and the country of export and is often subject to import quotas, tariffs and trade agreements. When the "imports" are the set of goods and services imported, "Imports" also means the economic value of all goods and services that are imported. The macroeconomic variable I usually stand for the value of these imports over a given period of time, usually one year.

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Pakistan Imports

Pakistan is a fast growth country given that it is in a tough neighborhood. For the last 5 years it has averaged 6-7% growth. Pakistan has been burdened with a costly arms race with the 8 times larger India. This has placed severe strain on her resources ever since her independence. However, there are signs that the country is trying to work its way out of the costly foreign policy and move towards greater economic development.

Pakistan imports were worth 3649 Million USD in February of 2012. Pakistan imports mainly petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel and tea. Its major import partners are: European Union, China, Saudi Arabia, United Arab Emirates and United States. This page includes: Pakistan Imports...
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