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Afghanistan’s exports rise this year

in Afghan Business

Afghanistan’s exports rise this year

dried fruitsAfghan Chamber of Commerce and Industries (ACCI) reported that Afghanistan’s exports witnessed a 49% increase during the first 9 months of the current fiscal year.

Afghanistan’s exports included non-alcoholic beverages, dried and fresh fruits, vegetables, precious and semi-precious stones, dairy products, cotton, carpets and other goods.

While last year this time exports stood at USD 267 million, this year Afghanistan’s exports were worth USD 399mn.

Meanwhile, Chief of ACCI Mohammad Qurban Haqjo regarded the boost in exports as insignificant in comparison to the country’s imports.

“Afghanistan is still facing a high trade deficit. Our imports stand at USD 10 billion during the first three quarters of this fiscal year, while our total imports last year were worth USD 5 billion. It is likely for our imports to hit USD 10billion again this year during the next quarter,” said Haqjo.

Standard packaging, improved trade relations with the US and European economies, good climate, and improvements in transit trade were cited as some of the main reasons behind the soaring exports of Afghanistan.

However, lack of processing factories and air cargo services remain to be major challenges hindering Afghanistan’s trade.

Haqjo called for an immediate approval of Afghanistan’s New Mining Laws that are aimed at boosting investment to help revive the country’s struggling economy.

A number of Afghan officials have raised concerns over the mines law impasse. The draft laws were submitted to the House of Representatives last year in June but no action has been taken ever since.

Ratification of the new mines law is delayed further as the lawmakers are currently on winter holidays.

“The law needs to be approved immediately,” Haqjo said. “President Karzai could sign the law in the absence of Parliament and then Parliament could approve it after the end of winter recess.”

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