Exports to China soar

Data from SBP reveals exports to China reached $633.374 million during July-September 2023-24

ISLAMABAD:

Pakistan’s exports of goods and services to China experienced a remarkable surge, increasing by 26.42% during the first three months of the current fiscal year (2023-24) compared to the same period last year, according to the State Bank of Pakistan (SBP). Data from SBP has revealed that exports to China reached $633.374 million during July-September (2023-24), up from $501.000 million during July-September (2022-23), marking a growth of 26.42%.

Furthermore, year-on-year exports to China witnessed an impressive growth of 68.57%, rising from $167.923 million in September 2022 to $283.077 million in September 2023. In a month-on-month comparison, exports to China increased by 42.29% during September 2023 when compared to the exports of $198.932 million in August 2023.

On the other hand, imports from China were recorded at $2744.241 million, marking a decrease of 15.11% in July-September (2023-24), compared to $3233.046 million last year.

Published in The Express Tribune, November 7^th, 2023.

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