What is Export and Import in Pakistan?
1. Export
Export refers to the process of selling goods and services from Pakistan to other countries. Businesses or individuals send products outside Pakistan in exchange for foreign currency.
Key Exports of Pakistan:
- Textiles & Garments (Cotton, fabrics, knitwear)
- Rice (Basmati & non-Basmati)
- Sports Goods (Football, gloves, kits)
- Surgical Instruments
- Leather Products (Jackets, shoes, bags)
- Fruits & Vegetables (Mangoes, citrus, potatoes)
- IT & Software Services
- Chemicals & Pharmaceuticals
Export Process in Pakistan:
- Business Registration: Get an NTN (National Tax Number) and register with SECP (if applicable).
- Export License: Register with Trade Development Authority of Pakistan (TDAP).
- Customs Clearance: Submit export documents via Web-Based One Customs (WeBOC) system.
- Payment Handling: Use Letter of Credit (LC) or bank transfers for international payments.
2. Import
Import refers to the process of buying goods from foreign countries into Pakistan. These goods are brought into the country for use, resale, or manufacturing.
Key Imports of Pakistan:
- Petroleum & Fuel (Crude oil, LNG, coal)
- Machinery & Equipment (Industrial machinery, generators)
- Electronics (Mobile phones, computers)
- Vehicles & Auto Parts
- Pharmaceuticals & Medical Equipment
- Edible Oil & Food Items (Palm oil, tea, milk powder)
- Raw Materials for Industries (Iron, steel, chemicals)
Import Process in Pakistan:
- Importer Registration: Obtain NTN and register with Pakistan Customs.
- Import License: Some products require special permits (e.g., medicines, food items).
- Customs Clearance: Importers file Goods Declaration (GD) via WeBOC system.
- Duties & Taxes: Pay import duties, sales tax, and other applicable charges.
Governing Authorities in Pakistan:
- Federal Board of Revenue (FBR): Handles import/export taxation.
- Pakistan Customs: Regulates and clears imported/exported goods.
- TDAP: Promotes exports and trade development.
- State Bank of Pakistan (SBP): Manages foreign exchange transactions.