Describe trade and commerce of Pakistan in recent past?

Pakistan's trade deficit widened to $31.8 billion in the fiscal year 2021-22, up from $22.6 billion in the previous year. This was mainly due to a surge in imports, which rose by 25% to $73.8 billion, while exports increased by only 16% to $41.9 billion.

The top exports of Pakistan are textiles and clothing, rice, leather goods, and sports goods. The top imports are machinery, petroleum products, chemicals, and food items.

Pakistan's main trading partners are China, the United States, the United Arab Emirates, and Afghanistan.

Commerce

The services sector is the largest contributor to Pakistan's economy, accounting for over 50% of GDP. The main sub-sectors are wholesale and retail trade, real estate, and financial services.

The government is promoting the development of the e-commerce sector in Pakistan. The e-commerce market is growing rapidly, and is expected to reach $1 billion by 2025.

Pakistan is also a member of the World Trade Organization (WTO), which helps to facilitate trade between countries.

Challenges

Pakistan faces a number of challenges in its trade and commerce sectors. These include:

* A large trade deficit

* A lack of diversification in exports

* A lack of infrastructure

* A high cost of doing business

* Political instability

The government is working to address these challenges and improve the country's trade and commerce environment.