Abstract

In the developing world, the unprecedented pandemic of COVID-19 and its economic consequences are likely to wreak havoc in all economies, triggering many recessions and economic downturns, especially in Pakistan. This has made it difficult for policymakers to develop policies for emerging economies. This article aims to provide an overall understating of the possible interconnectedness of trade shocks between imports and exports during the first and second wave of the COVID-19 pandemic, as well as to provide implications for the future direction of trade. This is an exploratory pathway work trying to make sense of COVID-19 pandemic and its impact on economy. The paper first provides an overall scenario of the trade impacts of the COVID-19 pandemic on imports and exports of Pakistan and then discusses emerging evidence in relation to the impact mapping to provide practical implications for policy makers; the assessment of this paper is largely in line with the limited studies available on the economics of COVID-19. This article suggests that long-term policies are required to mitigate the effects of the COVID-19 pandemic and to revitalize Pakistan's imports and exports. This article sets out the combat implications for policy makers and practitioners to formulate, such an urgent and challenging policies that is likely to have long-term benefits for Pakistan.

Key words: COVID-19; Policymakers; economic; Pakistan