Essay On Imports and Exports

International trade comprises two types: imports and exports.

I. Imports

The items brought from other countries are called “imports”. Pakistan is a developing country. We have enough natural resources but industrially we are backward. Today, technology is being used in every field of life. Therefore, in order to boost economic activities in various fields, we need to import the required machinery. Moreover, we are also not self-sufficient in certain minerals and agricultural crops. The list of Pakistan’s imports is quite long; the major is being discussed below:

i. Industrial Machinery

Pakistan’s economy is shifting from agricultural to industrial. But still, we have only those industries in which agricultural raw material is converted into finished products. We don’t have technology that could make machinery for industries. Thus, industrial machinery is imported from the countries of European and Northern America, Australia, Japan, and China. We also import scientific equipment from these countries.

ii. Transport Machinery

As the population grows, the demand for vehicles to transport goods and passengers also increases. The means of transportation, which include airplanes, ships, trains, buses, trucks, cars and motorcycles, etc., are imported from the same countries from where we import industrial machinery.

iii. Defense Equipment

Pakistan has its own ordnance factories, yet we have to buy sophisticated weapons from foreign markets. Our need is fulfilled by China, the USA, Russia, and European countries.

iv. Iron and Steel

Iron and steel are used in making spare parts of machinery. Our local production of iron and steel is insufficient; therefore, we import these from the USA, Japan, Germany, and the UK, etc.

V. Medicines and Chemical compounds

We import medicines from Germany, France, Italy, USA, and Japan. The chemical compounds used in the local industry are also imported from these countries.

vi. Agricultural Products

There is a scarcity of edible oil and tea in Pakistan. Sometimes, we also face wheat shortage. We import soybean oil from the USA, palm oil from Malaysia, tea from Kenya, Bangladesh, and Sri Lanka, and wheat from USA and Australia.

Besides these commodities, we also import items like paper, electronics cosmetics, sports goods, etc. from various countries.

II. Exports

The goods produced in the home country and sold to foreign countries are called “Exports”. The export base of Pakistan is narrow. The items included in our exports are food cereals, cotton, wool, leather, some minerals, and a few other simple products.

i. Cotton Products

Pakistan produces cotton in surplus to its domestic needs. We export raw cotton, cotton yarn, cotton cloth, and readymade garments to Hong Kong, Japan, and Bangladesh. Middle-East countries, USA, China, Germany, Indonesia, Malaysia, and Singapore, etc.

ii. Animal’s Skin (Hide), Leather, and Wool

Animal husbandry is among the major occupations in Pakistan. Besides meat and milk, we use the hide and wool of animals. Leather is the finished product of animal skin and wool has several uses. We export these goods both in raw form and as finished products to Iran, Russia, Spain, Italy, and Japan.

iii. Handicrafts

These products include embroidered garments, decoration pieces made of marble, fascinating metallic utensils, and sports goods, etc. A lot of foreign exchange is earned through these products.

iv. Carpets and Mats

Pakistani carpets are liked throughout the world for their beauty and durability. These products are exported to rich Arab countries, Germany and America.

V. Rice and Fish

We produce rice and fish in surplus. Our basmati rice is of high quality and is exported to Middle-East, European, and some African countries. Our fish catch is mostly exported to Middle East.