Afghanistan Global Trade Affected After the unfortunate Takeover by Taliban

The Afghanistan Government is now completely under the shell of the Taliban, an alleged terrorist. In other terms, the country is at a high risk of destruction and unpredictable bad decisions that could impact the entire world at a great level. Amid such a complex situation for the country, it is impossible to craft an estimate of its economic value. Before the above-mentioned takeover, the estimated GDP of the country was 20.50 Billion USD. It exported products to other countries worth over 776 Million USD, which is quite low in comparison to countries like the USA, UK, UAE, and Russia, which play in billions. Now that Afghanistan's citizens are scared to live in the country, India and the USA have come to the rescue. People are escaping. And with such loss, the potential of Afghanistan's survival is quite less. 

To examine the situation of Afghanistan from the point of view of international trade data, Cybex Exim Solutions experts took the initiative to countdown the current impact of such an unfortunate takeover on the economy. Following are the few pointers that are under the spotlight as of August 2021. Let's take a look: 

• Afghanistan Export Data hit a dead end as it declines to export cargo to India. The country remains highly dependent on Afghan exporters to import dry fruits and piquant spices. 
• Before the takeover, India exported 500 million USD worth of finished products to Afghanistan through trade routes of Pakistan. Hence, the country remains at a loss. 
• As evident by the Taliban's previous criminal records, it is possible that the Afghani Government will engage in international trade of illegal substances using illegal methods of trade. Henceforth, causing a surge. 
• Additional charges on the exports and imports of goods may increase because Afghanistan is now a locked country. The only medium of transportation active is the airway. 

Keeping such definite impacts in mind, Afghanistan's takeover by the Taliban seems to be doing no good to international trade. It is time for countries to choose a substitute to fulfil their import-export requirements, which were previously filled by Afghan exporters. 

Alongside, this scenario also opens up opportunities for exporters of other countries to take over the business from Afghanistan. So, if you are wondering what's the role of Afghanistan in global trade, the following are some important pointers: 

What does Afghanistan trade the most? 

According to Afghanistan export data, its top 10 exports include handcrafted Carpets and Rugs with total coverage of 45% export. 31% of total exports are filled by dry fruits, and 12% coverage goes to medicinal plants, including drugs for medical purposes. 

Apart from this, Afghanistan import data suggests that the country remains dependent on international trade for petroleum & natural gas, machinery, apparatus, and other equipment, metals and articles, and food products. 

Its current trade balance is 6.36 billion USD in deficit. Hence, if the Taliban takes a step back from global trade and seals all trade routes, many countries will suffer a major loss in GDP. 

Who does Afghanistan trade with? 

Afghanistan's main global trade partners list as per the trade statistics 2021 include Pakistan, India, Russia, Iraq, Turkey, and Iran. Turkey is currently taking over Afghanistan Airports for security purposes. Hence, it is hard to determine which country will protect or abandon Afghanistan when the time comes. 

For complete Afghanistan Shipment Data, visit www.Cybex.in. Thank you for reading. Please be safe!