Pakistan's exports to China upwardly mobile, increase by 3.93 percent in 8 months

ISLAMABAD: Pakistan’s exports of goods and services to China grew by 3.93 percent during the first eight months of the current fiscal year compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to China were recorded at $1150.523 million during July-February (2018-19) against exports of $1107.004 million during July-February (2017-18), PBS data revealed.

Based on the trade figures, the trade of goods and services with China witnessed decrease of 11.85 percent in deficit during first eight months of the ongoing fiscal year as compared to the corresponding period of last year.

The deficit during the period under review was recorded at $5482.668 million against $6219.702 million during same period of last year, the data revealed.

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The commodities that contributed positively growth in exports included frozen fish of which a growth from $23.563 million last year to $44.048 million during the current fiscal year was observed, showing growth of 86.93 percent.

The export of rice also increased by 77.70 percent, from $71.829 million to $127.645 million whereas the exports of flour, meal and meat (not for humans) increased by 132 percent.

The exports of fruits and nuts grew by 437.15 percent, from $0.681 million to $3.658 million while the exports of refined copper and copper alloys increased by 515.35 percent, from $5.908 million last year to $36.355 million, said the report.

Over all Pakistan’s exports to other countries witnessed an increase of 0.16 percent in eight months, from $19.486 billion to $19.454 billion.

The overall imports into the country decreased by 4.85 percent, from $43.004 billion to $41.032 billion, according to the data.