Monday, October 2, 2023

Pakistan’s Export to China Surged by 81.6% in August

In August 2023, Pakistan saw a significant increase in its exports to China, with a remarkable 81.6% rise compared to the same period the previous year. According to the Trade Development Authority of Pakistan (TDAP), exports to China reached approximately 62,456 million PKR in August 2023, compared to approximately 34,379 million PKR in August 2022.

The report also shows that in August 2023, Pakistan exported goods valued at approximately 56,240 million PKR to the United Kingdom, approximately 38,692 million PKR to the Netherlands, approximately 22,658 million PKR to Afghanistan, approximately 15,363 million PKR to Saudi Arabia, approximately 11,465 million PKR to Vietnam, approximately 11,016 million PKR to Poland, approximately 9,612 million PKR to Malaysia, and approximately 8,918 million PKR to Turkey.

This positive trend in exports to China has continued for the second consecutive month in the fiscal year 2023-24, following a 35.1% increase in July 2023 compared to the previous year.

However, it’s worth noting that in August 2023, Pakistan’s overall exports to various countries amounted to approximately 700,048 million PKR, which is approximately 14.27% less than the exports in the same month the previous year. During the same period, Pakistan’s imports were recorded at approximately 1,331,464 million PKR, resulting in a trade deficit of approximately -635,496 million PKR.

In August, Pakistan’s top export products included linen products valued at approximately 108,038 million PKR, cotton yarn at approximately 30,727 million PKR, and copper products at approximately 17,020 million PKR.

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