Pakistan’s exports to China increase by 26.42pc in 3 months

ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 26.42 percent during the first three 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$633.374 million during July-September (2023-24) against exports of US$501.000 million during July-September (2022-23), showing growth of 26.42 percent, SBP data revealed.

On a year-to-year basis, the exports to China also surged by 68.57 percent from US$167.923 million in September 2022, against the exports of US$283.077 million in September 2023.

Meanwhile, on a month-on-month basis, the exports to China rose by 42.29 percent during September 2023 as compared to the exports of US$198.932 million in August 2023, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed a decrease of 4.96 percent in the first three months, from US$7.385 billion to US$7.018 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$2744.241 million against US$3233.046 million last year, showing a decline of 15.11 percent in July-September (2023-24).

On a year-on-year basis, the imports for China witnessed an increase of 2.92 percent from US$855.975 million in September 2022, against the imports of US$880.972 million in September 2023.

On a month-on-month basis, the imports from China into the country dipped by 2.14 percent during September 2023, as compared to the imports of US$900.289 million during August 2023, according to the data.

The overall imports into the country witnessed a decrease of 23.81 percent, from US$16.355 billion to US$12.460 billion, according to the data.