Financial Relation means how both countries can helpful for each other in import and Export services. There is a certain increase of goods in year 2023 between two countries and the ratio of imports and exports now four times more as compared to 2022 year according to the recent overview. Estimate 4.4 billion pounds trades of goods and services happened in four quarter in year 2023 which is more than last year. Due to devaluation of currency issue and crisis issues the rate of import and export increases and it will increase more in coming time. The main prospective of this discussion is to highlight and focus on the financial relation of UK with Pakistan.
History of Financial Relation between two countries
According to the Research the total UK exports to Pakistan is round about 1.5 billion pounds in year 2023 and UK imports to Pakistan is approximately equal to 2.8 billion pounds. There is a lot of changes in trade services between UK and Pakistan. Due to the existence of COVID 19 the rate of trade goods and services is down at that time. After COVID 19 the rate of imports and exports increases and it reached up to approximately equal to 4.4 billion pounds in four quarter and highly recorded in Year 2023. The ratio of UK exports to Pakistan in Year 2023 of goods is less than as compared to services. At the end of Year 2023 the ratio of UK imports to Pakistan is also increased 33 to 37 percent as compared to previous year. Following are the important materials which imports and exports from UK to Pakistan or Pakistan to UK includes:
Goods exported from UK to Pakistan includes metals ores, textile fibers etc. On the other hand, goods exported from Pakistan to UK includes clothing, Cereal’s etc. Due to these imports and exports services the relation of UK and Pakistan becomes more and more stronger in trading. It impacts on Economical area as well.
Overview of FDI stock between two Countries
On the behalf of trading, the FDI stock market indicates that there is a huge number of changes happened due to the increase in Population and overflow of people in different platforms so according to these conditions and overpopulation there is actually need of different items which are not made in country so on the basis of actual needs the ratio of goods and services increased and it will increase in future as well.
Future Prediction of Financial Condition of UK and Pakistan
According to the research it indicates that the Economic ratio of UK will drop in Year 2024 like from 0.4 percent to 0.3 percent and increase up to o.7 percent in Year 2025. On the other hand, the IMF indicates the increase of unemployment is 8.5 percent more as compared to previous Year. In year 2025 and 2030 the income country of Pakistan will be like as middle-income country and the rate of poverty level is round about 10 percent at that time. On the behalf of survey and observation the economic growth of Pakistan will improve in coming Years and Pakistan economic history will totally change after 5 to 6 years the condition of unemployment history will better.
The Relation of UK and Pakistan on the behalf of financial system will become more stronger in future to maintain the goods and services.
Cai Li, Shoaib Asim, Waleed Khalid, Muhammad Sibt E. Ali, what influences the climate entrepreneurship? Chinese-based evidence, Frontiers in Environmental Science, 10.3389/fenvs.2022.1051992, 10, (2023)