Pakistan’s exports to China increased considerably in current fiscal year: SBP

Islamabad: Pakistan’s exports increased considerably to China in the current fiscal year and declined to the United States, the State Bank of Pakistan (SBP) announced.

Pakistan exported goods worth US $1223.532 million against the exports of US $877.444 million last year to China showing an increase of 39.44 percent.

Total exports to the US during July-November 2023 were recorded at US $2296.424 million against the exports of US $2606.612 million during July-November 2022, showing a decline of 11.90 percent, according to the SBP.

UK was the third top export destination, where Pakistan exported products worth US $862.397 million during the months under review against the exports of US $874.066 million, SBP data revealed.

Among other countries, Pakistani exports to UAE stood at US $817.993 million against US $614.902 million last year, showing an increase of 33.02 percent, while the exports to Germany were recorded at US $612.276 million against $746.055 million last year, data said.

During July-November, the exports to Holland were recorded at US $559.819 million against US $630.973 million whereas the exports to Italy stood at US$501.985 million against US $491.734 million.

Pakistan’s exports to Spain were recorded at US $638.783 million against the exports of US $569.936 million while the exports to Afghanistan were recorded at US $232.697 million against US $213.282 million last year.

The exports to Bangladesh stood at US $248.457 million against US $364.930 million. Similarly, the exports to France during the months under review were recorded at US $207.024 million against US $252.691 million while the exports to Belgium stood at US$235.611 million against US $322.509 million.

Pakistan’s exports to Saudi Arabia were recorded at US $275.655 million during the current year compared to US $183.736 million last year whereas the exports to Turkiye stood at $158.683 million against US $139.825 million.