Pakistan’s exports to China up by 37% in 10 months

ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 37.68 percent during the first ten 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) reported.

The overall exports to China were recorded at US $2.341 billion during July-April (2023-24) against exports of US $1.700 billion during July-April (2022-23), SBP data revealed.

On a year-to-year basis, the exports to China also surged by 13.56 percent from $175.542 million in April 2023, against the exports of $199.352 million in April 2024.

Meanwhile, on a month-on-month basis, the exports to China decreased by 18.97 percent during April 2024 as compared to the exports of $246.030 million in March 2024, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed an increase of 10.64 percent in the first ten months, from US $23.199 billion to US $25.669 billion, the SBP data revealed.

On the other hand, the imports from China into the country during the months under review were recorded at US $10.648 billion against US $8.343 billion last year, showing an increase of 27.61 percent in July-April (2023-24).

On a year-on-year basis, the imports for China witnessed an increase of 114.92 percent from US $598.196 million in April 2023, against the imports of US $1.285 billion in April 2024.

On a month-on-month basis, the imports from China into the country also witnessed a nominal increase of 1.39 percent during April 2024, as compared to the imports of US $1,267.921 million during March 2024, according to the data.

The overall imports into the country witnessed a decrease of 5.27 per cent, from $45.766 billion to US $43.353 billion, according to the data.