Pakistan's trade relations with BRICS countries: trends, export-import intensity, and comparative advantage
Year: 2024
Type: article
Abstract: This research examines Pakistan's 2003–2021 trade with BRICS nations. The International Trade Center, World Integrated Trade Solutions, and UN COMTRADE provide data for the study. We used the Balassa index (RCA) and Comparative Advantage framework to analyze Pakistan's trading strengths. We also utilized the Export and Import Intensity Indexes to evaluate trade linkages. These methods supported our findings and accurately represented Pakistan-BRICS trade changes. This analysis compares Pakistan's exports and imports from BRICS nations throughout time. Pakistan's exports to South Africa, Brazil, Russia, India, and China varied in 2005; by 2021, they had changed. Exports to Brazil and Russia rose from $0.011 billion to $0.099 billion and $0.175 billion. Exports to India fell from $0.337 billion to nearly nothing. South African exports rose from $0.221 billion to $0.223 billion, while Chinese exports rose from $0.435 billion to $3.042 billion. These developments show Pakistan's evolving BRICS trade relations. Pakistan's trade with BRICS countries shows remarkable trends. Pakistan trades more to China, a major commercial partner. Exports to India have dropped, indicating strained ties. Export fluctuation to other BRICS nations emphasizes the need for stable trade policy and market diversification. The report emphasizes improving business conditions, investing in R&D, and diplomatically strengthening commercial links with BRICS nations. Pakistan has a comparative advantage over Russia and China in some items, which might help policymakers and entrepreneurs explore export opportunities. The export intensity index shows Pakistan's dependence on China, while the import intensity index shows BRICS nations' vulnerability to external shocks. This research analyzes commodity export value and percentage fluctuations. The commodities market is dynamic and affects trade values, as seen by commodity growth patterns. The thorough review of Pakistan's trade connection with BRICS nations provides policymakers and companies with useful information to increase trade competitiveness and promote sustainable economic development.
Source: Frontiers of Finance
Authors: Shakil Ahmad, Asif Raihan, Mohammad Ridwan
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4410215124