Pakistan is the second largest trading partner of Sri Lanka among the SAARC member countries. The value of total trade between Sri Lanka and Pakistan which stood at US $107 million in 2003, increased to US $234 million in 2007. Sri Lanka's exports to Pakistan increased from US $37 million in 2003 to US $57 million in 2007.
Sri Lanka's main exports to Pakistan in 2007 were natural rubber & rubber products, copra, fresh coconut, betel leaves, black tea, fibre board of wood, desiccated coconut, coconut oil, pineapple, spices, electrical switches & sockets, porcelain ware etc.
Sri Lanka's major imports from Pakistan which remained at US $70million in 2003, increased to US $177 million in 2007.Sri Lanka's major imports from Pakistan in 2007 were cotton fabric, synthetic fabric, potatoes, wheat grain, dried fish, pharmaceutical products, steel pipes, textile fibres, gloves, copper wire, onions, rice etc.
The Pakistan - Sri Lanka Free Trade Agreement (PSFTA) which came into force from 12th June, 2005 has paved the way to enhance the bilateral trade. The two countries are now negotiating for a Comprehensive Economic Partnership Agreement which incorporates trade in goods, services, investment & customs co-operation.
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Main Items Imported to Sri Lanka from Pakistan - 2007
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Product Description Value % of Value
Rs M Total Trade US $M
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Woven fabric of cotton 8,740 44 81
Potatoes - fresh or chilled 2,013 10 19
Wheat grain 1,401 8 13
Knitted or crocheted
synthetic fabrics 1,222 6 11
Iron & steel - Welded,
circular cross-section 910 5 8
Frozen fish 842 4 8
Pharmaceutical Products 674 3 6
Synthetic staples fibres 625 3 6
Gloves - knitted or crocheted 418 2 4
Copper wire - 6 mmcross-
sectional dimension 409 2 4
Other 2,587 13 24
Total 19,841 100 184
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Rate of Exchange as on February 2008 - US $1 = Rs 108.3779
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Main Items Exported from Sri Lanka to Pakistan - 2007
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Product Description Value % of Value
Rs M. Total Trade US $M
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Rubber & Rubber products 2,292 37 21
Copra 1,162 19 11
Fresh Coconut in the Shell 820 13 8
Betel Leaves - vegetable
Products 537 9 5
Black tea 485 8 4
Fibreboard of wood 182 3 2
Oil Cake - Defaited Coconut 129 2 1
Cotton Yarn 61 1 1
Carboxymethyl Cellulose
& its salt 59 1 1
Cocunut Oil & fractions 55 1 1
Other 350 6 3
Total 6,132 100 58
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Rate of Exchange as on February 2008 - US $1 = Rs 108.3779
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