Wednesday, February 28, 2024

Pakistan’s Exports to China up By 40.36%

Pakistan’s exports to China went up by 40.36% in the last four months, the State Bank of Pakistan (SBP) said on Dec 1.

SBP reported that Pakistan’s export of goods and services to China witnessed an increase of 40.36 percent during the first four months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year.

The overall exports to China were recorded at $952.216 million during July-October (2023-24) against exports of $678.386 million during July- October (2022-23), SBP data revealed.

On a year-to- year basis, the exports to China also surged by 79.74 percent from $177.386 million in October 2022, against the exports of $318.842 million in October 2023.

Meanwhile, on a month-on- month basis, exports to China rose by 12.63 percent during October 2023 as compared to the exports of $283.077 million in September 2023, the SBP data said.

Pakistan’s total exports to other countries witnessed an increase of 1.13 percent in the first four months, from $9.666 billion to $9.776 billion, the SBP data added.

On the other hand, imports from China into the country during the months under review were recorded at $3737.818 million against $4139.263 million last year, showing a decline of 10.74 percent in July-October (2023-24).

On a year-on- year basis, imports from China witnessed an increase of 9.61 percent from $906.217 million in October 2022, against the imports of $993.367 million in October 2023.

On a month-on- month basis, imports from China into the country also rose by 12.73 percent during October 2023, as compared to the imports of $881.182 million during September 2023, according to the data.

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