Pakistan’s export to China witness increase of 33.67 percent in fiscal year 2023-24

Gwadar Pro

Islamabad: Pakistan’s export of goods and services to China witnessed an increase of 33.67 percent during the twelve months of the fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to China were recorded at US $2.707 billion during July-June (2023-24) against exports of US $2.025 billion during July-June (2022-23), SBP data revealed.

On a year-to-year basis, the exports to China also surged by 12.59 percent from $136.546 million in June 2023, against the exports of $153.745 million in June 2024.

Meanwhile, on a month-on-month basis, the exports to China decreased by 27.61 percent during June 2024 as compared to the exports of $212.392 million in May 2024, the SBP data said.

Overall Pakistan’s exports to other countries witnessed an increase of 11.53 percent in FY 2023-24, from US $27.875 billion to US $31.090 billion, the SBP data mentioned.

On the other hand, the imports from China into the country during the period under review were recorded at US $13.506 billion against US $9.662 billion last year, showing an increase of 39.78 percent in July-June (2023-24).

On a year-on-year basis, the imports for China witnessed an increase of 117.54 percent from US $623.832 million in June 2023, against the imports of US $1357.098 million in June 2024.

On a month-on-month basis, the imports from China into the country witnessed a decrease of 9.58 percent during June 2024, as compared to the imports of US $1501.005 million during May 2024, according to the data.

The overall imports into the country witnessed an increase of 0.89 percent, from $52.695 billion to US $53.167 billion, according to the data.