AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Pakistan Can Loose 3 Percent Of GDP If GSP+ Status Revoked: EU

admin-augaf by admin-augaf
September 23, 2021
in Business, International, National
Reading Time: 2 mins read
0
Pakistan Can Loose 3 Percent Of GDP If GSP+ Status Revoked: EU

Pakistan Can Loose 3 Percent Of GDP If GSP+ Status Revoked: EU

Share on FacebookShare on TwitterWhatsapp

Frankfurt September 23 2021: Countries that lose GSP benefits will suffer a deterioration in the terms of trade, which will see a fall in GDP; the largest fall is predicted for Pakistan (-3%), followed by Bangladesh (-2.1%) and Indonesia (-0.7%), as per study published by European Union.

EU27 (and Turkey due to the Customs Union with the EU) and UK tariff revenues rise by 0.5% and 0.7% respectively. However, the increase in revenues is offset by trade diversion to countries with tariff-free access to the EU market.


A L S O || R E A D

Gas-to-oil switching could prompt OPEC+ reaction: BP economist


At the sector level, amending the three-tier structure of the GSP by removing Standard GSP and/or GSP+ would significantly reduce total exports, indicating a limited capacity to adjust at sector level in these countries.

Total clothing exports are expected to be up to 42% lower in Tajikistan (albeit from a relatively small basis); others with large declines in total exports in this sector are Pakistan (-20%), Mongolia (-18%), and Bolivia (-10%).

Other sectors with a total export contraction of around 10% or more are textiles, leather, agri-food, and chemicals, rubber, and plastics.

Total EU imports of textiles and apparel, leather and footwear, and food products are expected to decrease by about 1% compared to the baseline. Imports of other sectors will hardly change.

Generally, GSP+ countries are more negatively affected than Standard GSP countries. In relative terms, the largest negative impacts under this option are expected in Tajikistan (presumed GSP+), particularly in textiles, apparel, and footwear.

Negative Impacts Are


estimated also for Pakistan (GSP+), with job reductions for skilled workers of 3.1% in apparel, 5.3% in textiles,67 and 0.4% in leather; there are, however, limited job increases in other sectors.

In the EU, effects are marginally negative stemming from the efficiency losses associated with the increased level of protection in this scenario compared to the baseline.

admin-augaf

admin-augaf

Related Posts

Pakistan Textile Exports Fall 15.2% to Hit Low of 17 Months in October on Inventory Pileup at Export Destinations
Business

Pakistan Textile Exports Increase 8.4% in First 10 Months of Fiscal Year 2025

May 16, 2025
Rupee
Business

Pakistan Rupee Reaches Strongest Level in Seven Months Against Trading Partners

May 16, 2025
Pakistan exports to US surge to $9 billion: Ambassador
Business

Pakistan’s Technology Exports Surpass $3 Billion, Marking 21% Growth in First 10 Months

May 16, 2025
Fair Global Consult Fair Global Consult Fair Global Consult
ADVERTISEMENT

Recent News

Pakistan Textile Exports Fall 15.2% to Hit Low of 17 Months in October on Inventory Pileup at Export Destinations

Pakistan Textile Exports Increase 8.4% in First 10 Months of Fiscal Year 2025

May 16, 2025
Rupee

Pakistan Rupee Reaches Strongest Level in Seven Months Against Trading Partners

May 16, 2025
Pakistan exports to US surge to $9 billion: Ambassador

Pakistan’s Technology Exports Surpass $3 Billion, Marking 21% Growth in First 10 Months

May 16, 2025
uaetreasury

UAE to Boost Energy Investments in US to $440 Billion by 2035

May 16, 2025
ICI Joins The Race To Acquire Majority Stake In Lotte Chemical

Lotte Chemical to Start Operating Indonesia Cracker in H2 2025

May 16, 2025

Popular News

  • NSS

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Petrol Prices in Pakistan to Return to July 2023 Levels

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Pakistan Textile Exports Increase 8.4% in First 10 Months of Fiscal Year 2025
  • Pakistan Rupee Reaches Strongest Level in Seven Months Against Trading Partners
  • Pakistan’s Technology Exports Surpass $3 Billion, Marking 21% Growth in First 10 Months

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

Pakistan Textile Exports Fall 15.2% to Hit Low of 17 Months in October on Inventory Pileup at Export Destinations

Pakistan Textile Exports Increase 8.4% in First 10 Months of Fiscal Year 2025

May 16, 2025
Rupee

Pakistan Rupee Reaches Strongest Level in Seven Months Against Trading Partners

May 16, 2025
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.