Pakistan’s exports to China up by 40.36%

Gwadar Pro

Islamabad: Pakistan’s exports to China went up by 40.36% in the last four months, State Bank of Pakistan (SBP) said.

The SBP reported that Pakistan’s export of goods and services to China witnessed an increase of 40.36 per cent during the first four months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year.

The overall exports to China were recorded at US $952.216 million during July-October (2023-24) against exports of US $678.386 million during July- October (2022-23), SBP data revealed.

On a year-to-year basis, the exports to China also surged by 79.74 per cent from $177.386 million in October 2022, against the exports of $318.842 million in October 2023.

Meanwhile, on a month-on-month basis, the exports to China rose by 12.63 per cent during October 2023 as compared to the exports of $283.077 million in September 2023, the SBP data said.

Overall Pakistan’s exports to other countries witnessed an increase of 1.13 per cent in the first four months, from US $9.666 billion to US $9.776 billion, the SBP data added.

On the other hand, the imports from China into the country during the months under review were recorded at US $3737.818 million against US $4139.263 million last year, showing a decline of 10.74 per cent in July-October (2023-24).

On a year-on-year basis, the imports for China witnessed an increase of 9.61 per cent from US $906.217 million in October 2022, against the imports of US $993.367 million in October 2023.

On a month-on-month basis, the imports from China into the country also rose by 12.73 per cent during October 2023, as compared to the imports of US $881.182 million during September 2023, according to the data.

The overall imports into the country witnessed a decrease of 20.06 per cent, from $21.007 billion to US $16.791 billion, the SBP data said.