Pakistan’s exports to China grow by 3.93pct in eight 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, the State Bank of Pakistan (SBP) reported.

The SBP reported that overall exports to China were recorded at more than 1150 million dollars during July-February (2018-19) against exports of over 1,107 million dollars during July-February (2017-18).

On the other hand, the imports from China into the country during the period were recorded at more than 6633 million dollars against 7326 million dollars last year, showing negative growth of 9.46 percent in first eight month of current fiscal year, it said.

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 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.

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

The exports 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 human) increased by 132 percent, from $8.959 million to $20.786 million.

The exports of fruits 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, the data revealed.

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 SBP data revealed.