The Vietnam Trade Office in Pakistan has released the Pakistan Market Report for November 2024, providing an overview of key economic indicators and trade performance between Vietnam and Pakistan.
1. Economic Overview
Table of Contents
In October 2024, Pakistan’s economy showed mixed performance — industrial production slowed while agriculture recorded moderate growth. Exports increased slightly, imports decreased, and the Pakistani rupee appreciated marginally.
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Industrial production: increased by 0.02% year-on-year, but decreased by 2.24% compared to September 2024.
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Foreign Direct Investment (FDI): reached USD 133.2 million, down 56.4% compared to September 2024.
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Foreign reserves: stood at USD 11.2 billion, up 4.6%.
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Remittances: recorded USD 3.05 billion, up 5.2%.
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Inflation: at 7.2%, rising 4.3% from the previous month.
2. Bilateral Trade Between Vietnam and Pakistan
Vietnam’s Exports to Pakistan
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October 2024: USD 46.05 million, down 7.1% compared to September 2024.
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Jan–Oct 2024: USD 419 million, up 24.9% year-on-year.
Vietnam’s Imports from Pakistan
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October 2024: USD 17.17 million, down 55.3% compared to September 2024.
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Jan–Oct 2024: USD 290.5 million, up 26.2% year-on-year.
This reflects strong bilateral trade growth despite short-term fluctuations, with Vietnam maintaining a positive trade balance with Pakistan.
3. Key Economic Highlights
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Industrial sector: Faces challenges due to energy shortages and reduced investment, particularly in textile and cement production.
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Agriculture: Continues to be a growth driver, supported by favorable weather and improved irrigation management.
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Exchange rate: The Pakistani rupee slightly appreciated amid better foreign reserve management and stable remittances inflows.
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Inflation pressures: Persist due to imported goods and energy costs, although food prices remained relatively stable.
4. Outlook and Recommendations for Vietnamese Businesses
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Pakistan remains a potential growth market for Vietnamese exports, particularly in agriculture, seafood, textiles, and consumer goods.
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Businesses should monitor currency fluctuations, as exchange rate volatility can affect import–export margins.
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Trade promotion activities and participation in Pakistani trade fairs (especially in Karachi and Lahore) can help Vietnamese exporters expand distribution networks.
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Maintaining close contact with the Vietnam Trade Office in Pakistan ensures updated regulatory information and market insights.
Full report available: Pakistan Market Bulletin – November 2024 (PDF)
Contact:
Vietnam Trade Office in Pakistan
Email: [Provided in report]
Ministry of Industry and Trade – Socialist Republic of Vietnam