Pakistan’s exports to China up by 46pc in 7 months

ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 46 percent during the seven months (July to January), ARY News reported citing sources. 

According to sources, the overall exports to China were recorded at US $1.7214 billion during July-January (2023-24) against exports of US $1.18 billion during July-January (2022-23).

On the other hand, the imports from China into the country during July-January were recorded at US $7.71 billion against US $7.66 billion last year, sources added.

On January, Pakistan’s export of goods and services to China witnessed an increase of 39.44 per cent during the first five 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 $1223.532 million during July-November (2023-24) against exports of US $877.444 million during July-November (2022-23), SBP data revealed. On a year-to-year basis, the exports to China also surged by 36.29 per cent from $199.058 million in November 2022, against the exports of $271.316 million in November 2023.

It is pertinent to mention here that China earlier “agreed” on a rollover of $2 billion debt to Pakistan.

According to sources with the finance ministry, the $2 billion debt will be rolled over before the maturity date on the existing conditions.

Sources said that less than 2 percent interest will be applied on the deposit of $2 billion debt from China.