Pakistan Trade | MCQs

Explanation

Explanation

Pakistan's largest exports go to the United States.

the most common destinations for exports in Pakistan are the:

United States ($5.51B)

China ($3.25B)

Germany ($2.53B)

United Kingdom ($2.21B)

United Arab Emirates ($1.28B)

Explanation

China remains Pakistan's largest importer partner in 2022-23

while

The United States is the largest export partner 

Explanation

The USA is the largest export destination for Pakistan, especially for textiles, garments, and leather goods.

Pakistan enjoys a trade surplus with the USA, making it a key market for earning foreign exchange.

Explanation

Pakistan mainly imports palm oil from Malaysia.

It is one of the largest producers of palm oil globally.

This oil is a key ingredient in the production of Banaspati ghee and other edible products in Pakistan.

Explanation

The European Union (EU) has granted Pakistan the status of GSP (Generalized System of Preferences) Plus.

It allows Pakistan to export certain products to the EU market at preferential tariff rates.

This status is granted to developing countries that meet certain criteria.

It aims to promote economic development and reduce poverty.