Key Market Indicators
**Pakistani Truck Exports Plummet by Over 20% in 2023** Pakistan's truck export industry faced a significant decline in 2023, with figures dropping to roughly $176,000. This marks a 22.2% decrease compared to 2022, when exports were valued at approximately $226,000. The downward trend is not new; since 2008, Pakistan's truck exports have been falling by an average of 21.9% annually. In the global ranking for 2023, Pakistan slipped to 85th place, with Madagascar surpassing it by reaching the same export value of $176,000. Globally, the United States, Germany, and France held the second, third, and fourth positions, respectively, in the truck export rankings. **Truck Imports on the Rise** Contrasting the export scenario, Pakistan's truck imports are on an upward trajectory. Projections indicate that imports will climb to approximately $576 million by 2028, up from around $481 million in 2023. This represents an average annual growth rate of 2.9%. Since 2008, Pakistan's demand for truck imports has consistently increased, showing a year-on-year growth rate of 4.4%.