<p>Pakistan's central bank has said that trade between Islamabad and New Delhi plummeted significantly this fiscal, apparently due to the ongoing tensions with India over the Kashmir issue.</p>.<p>The State Bank of Pakistan data in the first half of 2019-20 fiscal starting from July 1 showed that Pakistan's exports to India during the period came in at an insignificant USD 16.8 million as compared to USD 213 million in the first half of 2018-19, Dawn news reported.</p>.<p>But the declining trade across the border had not affected the balance of <gwmw class="ginger-module-highlighter-mistake-type-3" id="gwmw-15797623235888685999107">trade which</gwmw> was still heavily skewed in <gwmw class="ginger-module-highlighter-mistake-type-1" id="gwmw-15797623235884967354231">favour</gwmw> of India, it said.</p>.<p>Meanwhile, imports from India also fell to USD 286.6 million as against USD 865 million in the same period. As a result, Pakistan's trade deficit with the eastern neighbor amounted to USD 269.8 million.</p>.<p>India on August 5 revoked the special status to Jammu and Kashmir and bifurcated the state into two Union Territories, evoking strong reactions from Pakistan which has been trying to <gwmw class="ginger-module-highlighter-mistake-type-1" id="gwmw-15797623262199837072960">internationalise</gwmw> the issue.</p>.<p>Pakistan reacted by downgrading diplomatic ties with New Delhi and banning trade with India.</p>.<p>The ties have not recovered from the jolt and trade and commercial activities have suffered.</p>.<p>The central bank data showed that imports from China — the country's largest trade partner — fell to USD 4.8 billion during July-December versus USD 5 billion in the same period last year.</p>.<p>However, exports slightly rose to USD 936 million, up from USD 889 million in the first half of the 2019-20. This meant a trade balance with China at a negative USD 864 billion.</p>.<p>With the second-largest partner, the United Arab Emirates, there was some improvement as exports to the Gulf country increased to $827m in the period, from USD 638 million. This was driven by a significant decline in imports to USD 3.6 billion, down from USD 5 billion.</p>.<p>Pakistan has succeeded to drastically reduce the current account deficit mainly through cuts in <gwmw class="ginger-module-highlighter-mistake-type-3" id="gwmw-15797623321317074718842">imports</gwmw> bill, which is also reflected in the above-mentioned two cases. </p>
<p>Pakistan's central bank has said that trade between Islamabad and New Delhi plummeted significantly this fiscal, apparently due to the ongoing tensions with India over the Kashmir issue.</p>.<p>The State Bank of Pakistan data in the first half of 2019-20 fiscal starting from July 1 showed that Pakistan's exports to India during the period came in at an insignificant USD 16.8 million as compared to USD 213 million in the first half of 2018-19, Dawn news reported.</p>.<p>But the declining trade across the border had not affected the balance of <gwmw class="ginger-module-highlighter-mistake-type-3" id="gwmw-15797623235888685999107">trade which</gwmw> was still heavily skewed in <gwmw class="ginger-module-highlighter-mistake-type-1" id="gwmw-15797623235884967354231">favour</gwmw> of India, it said.</p>.<p>Meanwhile, imports from India also fell to USD 286.6 million as against USD 865 million in the same period. As a result, Pakistan's trade deficit with the eastern neighbor amounted to USD 269.8 million.</p>.<p>India on August 5 revoked the special status to Jammu and Kashmir and bifurcated the state into two Union Territories, evoking strong reactions from Pakistan which has been trying to <gwmw class="ginger-module-highlighter-mistake-type-1" id="gwmw-15797623262199837072960">internationalise</gwmw> the issue.</p>.<p>Pakistan reacted by downgrading diplomatic ties with New Delhi and banning trade with India.</p>.<p>The ties have not recovered from the jolt and trade and commercial activities have suffered.</p>.<p>The central bank data showed that imports from China — the country's largest trade partner — fell to USD 4.8 billion during July-December versus USD 5 billion in the same period last year.</p>.<p>However, exports slightly rose to USD 936 million, up from USD 889 million in the first half of the 2019-20. This meant a trade balance with China at a negative USD 864 billion.</p>.<p>With the second-largest partner, the United Arab Emirates, there was some improvement as exports to the Gulf country increased to $827m in the period, from USD 638 million. This was driven by a significant decline in imports to USD 3.6 billion, down from USD 5 billion.</p>.<p>Pakistan has succeeded to drastically reduce the current account deficit mainly through cuts in <gwmw class="ginger-module-highlighter-mistake-type-3" id="gwmw-15797623321317074718842">imports</gwmw> bill, which is also reflected in the above-mentioned two cases. </p>