Friday, June 14, 2024

Pakistan’s Exports to Seven Regional Countries Increase by 20% to $3.655 Billion in 10 Months

During the first ten months of the fiscal year 2023-24, Pakistan witnessed a notable rise in exports to seven key regional partners, marking a significant growth of 20.61%. This increase amounted to $3,655.483 million, constituting approximately 14.24% of Pakistan’s total exports, which totaled $25,669.182 million during the same period.

Among these nations, China emerged as the top destination with a substantial 37.68% increase in imports from Pakistan, totaling $2,341.089 million. Additionally, exports to Sri Lanka saw a robust growth of 35.83%. However, exports to Afghanistan and Nepal experienced declines, reflecting varying trade dynamics across the region.

On the import side, Pakistan’s imports from these neighboring countries rose by 26.77% to $10,925.280 million. China played a pivotal role in this surge, commanding a significant share of Pakistan’s imports. Meanwhile, imports from India recorded a notable increase of 13.61%, contrasting with declines in imports from Afghanistan and Nepal.

These trade figures underscore Pakistan’s evolving economic ties with neighboring nations, highlighting both the opportunities and challenges in regional trade dynamics. The data reflects a nuanced picture of Pakistan’s trade relationships, influencing its broader economic strategies and regional engagements.

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