China or the US, who is Pakistan's better economic partner?
During last couple of years, the US only invested USD 607 million in Pakistan
Lahore: (Dunya News) - As Pak-US relations have again hit the low mark after president Trump s diatribe, it is pertinent to assess its ramifications vis-à-vis Pakistan’s economy and bilateral trade partnerships.
Total volume of bilateral trade between Pakistan and the US amounts to USD 5.78 billion. During current fiscal year, Pakistan has made USD 3.68 billion worth exports to the US, while importing products totaling USD 2.10 billion.
On the contrary, product inflow from China to Pakistan in the ongoing fiscal year has crossed a whopping USD 11.63 billion mark while exports to the Northern neighbor being limited to USD 1.76 billion. Pak-China bilateral trade volume, likewise, remained USD 13.36 billion.
The influx of foreign direct investment into Pakistan from the US during previous two years has been receding as American companies withdrew USD 30.20 million from the country in 2016 while investing USD 700 million in 2017. China, on the other hand, has invested USD 2.23 billion during last two fiscal years with USD 1.23 billion coming in 2107 only in lieu of FDI.
Moreover, China is also investing over USD 65 billion inside Pakistan as part of China-Pakistan Economic Corridor (CPEC). The ambitious investment plan caters to a wide range of infrastructural projects such as roads, railways, special industrial zones and a warm-water deep-sea port.
