Pakistan exports to China jump significantly

Gwadar Pro

Islamabad: Pakistan’s export of goods and services to China witnessed an increase of 40.01 per cent during the first six months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) announced.

The overall exports to China were recorded at US $1481.499 million during July-December (2023-24) against exports of US $1058.088 million during July- December (2022-23), SBP data revealed.

On a year-to-year basis, the exports to China also surged by 42.80 per cent from US $180.643 million in December 2022, against the exports of US $257.966 million in December 2023.

Meanwhile, on a month-on-month basis, the exports to China decreased by 4.92 per cent during December 2023 as compared to the exports of US $271.316 million in November 2023, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed an increase of 7.49 per cent in the first six months, from US $14.222 billion to US $15.288 billion, the SBP data revealed.

On the other hand, the imports from China into the country during the months under review were recorded at US $5782.371 million against US $5849.382 million last year, showing a nominal decline of 1.14 per cent in July-December (2023-24).

On a year-on-year basis, the imports for China witnessed an increase of 29.51 per cent from US $803.992 million in December 2022, against the imports of US $1041.271 million in December 2023.

On a month-on-month basis, the imports from China into the country witnessed a nominal increase of 3.78 per cent during December 2023, as compared to the imports of US $1003.248 million during November 2023, according to the data.

The overall imports into the country witnessed a decrease of 14.69 per cent, from US $29.588 billion to US $25.241 billion.