Pakistan’s Regional Exports Increased by 20.57% in 8 Months

APP 

Islamabad: Pakistan’s exports to the seven regional countries witnessed an increase of 20.57 percent in the first eight months of the financial year (2023–24) as compared to the corresponding months of last year.

The country’s exports to regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $2,912.102 million, which is 14.17 percent of Pakistan’s overall exports of $20,537.900 million during July–February (2023–24), the State Bank of Pakistan (SBP) reported. 

China tops the list of countries in terms of Pakistan’s exports to its neighbors, leaving behind other countries such as Bangladesh and Afghanistan. 

Pakistan carried out its border trade with its father neighbors, Sri Lanka, India, Nepal, and the Maldives. 

Pakistan’s exports to China witnessed an increase of 42.02 percent to $1,895.720 million in eight months of this year from $1,334.804 million last year, while exports to Afghanistan witnessed a nominal decline of 7.68 percent from $346.522 million to $319.887 million.

 The country’s exports to Bangladesh also decreased by 19.63 percent to $421.939 million this year from $525.017, whereas exports to Sri Lanka rose by 32.31 percent to $266.164 million from $201.165.

The exports to India increased to $0.230 million from $0.161 million in the previous year.

 Exports to Nepal increased by 5.66 percent to $2.164 million from 2.048 million, while those to the Maldives increased by 8.11 percent to $5.548 million from 5.998 million, it added.

 On the other hand, imports from seven regional countries were recorded at $8,289.088 million during the period under review as compared to $7,293.738 million during last year, showing an increase of 13.64 percent.

 The imports from China during July–February 2023–24 were recorded at $8,105.831 million against $7,065.406 million during July–February 2022–23, showing an increase of 7.66 percent during the period.

 Among other countries, imports from India are worth $138.713 million against imports of $125.569 million, an increase of 10.46 percent, while imports from Afghanistan decreased by 59.82 percent from $13.540 million to $5.440 million.

 Meanwhile, imports from Sri Lanka increased to $38.733 million from $35.345 million, whereas imports from Bangladesh recorded $38.770 million from $53.260 million during last year.

 The imports from Nepal into the country witnessed a decrease of 68.85 percent, from $0.610 million to $0.190 million, it added.