The region in which Pakistan is located is very important for international trade. Pakistan is located at an important and strategic position in respect of sea, air and land routes of the world. China is located in its northeast and India in the east, which have a big share in future trade. In its north are Russia and the Central Asian states, while to the northwest is the Muslim world, which is rich in oil. Russia needs Pakistan for access to hot waters. Trade of the Muslim world with South Asia and Australia is possible only through Pakistan because Pakistan is in the middle of these countries. Easy access to China, Central Asia and the Middle East is possible only through Pakistan, as the port of Karachi is an important hub for business activities.
In the present era of development, no country can survive without international trade. Some products have to be imported from other countries and some things have to be sold to other countries, which are called imports and exports respectively.
Major Imports of Pakistan
Pakistan's major imports include petroleum products, machinery, electronics, medicines, cars, refrigerators, air conditioners, tea, cooking oil and powdered milk. About of Pakistan's imports come from six countries, including the United States, the United Kingdom, Japan, Germany, Saudi Arabia and the United Arab Emirates. The main reason for the growing trend in Pakistan's imports is the weakness of technology. Due to weak technology, we cannot make machinery, electronics and cars ourselves. We have to import these goods at the expense of valuable foreign exchange, which is a huge burden on the country's economy.
Major Exports of Pakistan
Pakistan's major exports include textile products, rice, vegetables, fruit, cement, surgery equipment, sports equipment, ready- made garments, leather products, jewelry and chemicals etc. Major portion of Pakistan's exports is directed to five countries. These include the United States, United Arab Emirates, Germany, United Kingdom, and Hong Kong.