Pakistan’s exports to China grow 1.80pc in 7 months

Islamabad: Pakistan’s exports of goods and services to China grew by 1.80 percent during the first seven months of financial year (2019-20)compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to China were recorded at $1056.773 million during July-January (2019-20) against exports of $1038.023 million during July-January (2018-19), PBS data revealed.

On the other hand, the imports from China into the country during the period were recorded at $5794.114 million against $5941.554 million last year, showing negative growth of 2.48 percent in first seven months of this year.

Based on the trade figures, the trade of goods and services with China witnessed decrease of 3.38 percent in deficit during first seven months of ongoing fiscal year as compared to the corresponding period of last year.

The deficit during the period under review was recorded at $4737.341 million against $4903.536 million during same period of last year, the data revealed.

The commodities that contributed positively growth in exports included fish frozen exports of which grew from $40.253 million last year to $73.947 million during the current fiscal year, showing growth of 83.70 percent.

The exports of cane or beet sugar and sucrose also increased by 4520.59 percent, from $0.874 million to $40.384 million whereas the exports of refined copper and copper alloys increased by 73.30 percent, from $28.214 million to $48.895 million.

The exports of cotton waste including yarn waste grew by 27.25 percent, from $3.375 million to $4.295 million while the exports of articles of apparel and accessories of leather increased by 86.49 percent, from $1.911 million last year to $3.564 million, the data revealed.

Meanwhile, the commodities that contributed positively growth in imports included rice imports of which grew from US $5.006 million last year to US $9.779 million during the current year, showing increase of 95.34 percent.

The imports of ginger, saffron, turmeric, thyme, bay leaves and curry also increased by 41.70 percent, from $25.752 million to $36.493 million whereas the imports of parts of footwear increased by 55.62 percent, from $5.675 million to $8.832 million.

The imports of electric apparatus for line telephony and telephone sets also increased by 93.97 percent, from $338.682 million to $650.175 million whereas the imports of copper tubes and pipes increased by 10.83 percent, from $9.373 million to $10.389 million.

The imports of motor vehicles for transport of goods increased by 31.07 percent, from $33.498 million to $43.908 million whereas the imports of onions, shallots, garlic, leeks etc also increased by 190.26 percent, from $12.795 million to $37.139 million, the data revealed.