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 USD 1481.499 million during July-December (2023-24) against exports of USD 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 USD 180.643 million in December 2022, against the exports of USD 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 USD 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 USD 14.222 billion to USD 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 USD 5782.371 million against USD 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 USD 803.992 million in December 2022, against the imports of USD 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 USD 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 USD 29.588 billion to USD 25.241 billion.