Exports to China jump 44.53% in 7 months

Pakistan’s exports to other countries witnessed increase of 9.32% in first seven months

ISLAMABAD:

Pakistan’s export of goods and services to China witnessed an increase of 44.53% during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) reported.

The data revealed that overall exports to China were recorded at $1726.679 million during July-January (2023-24) against that of $1194.639 million the year before. On a YoY basis, exports to China also surged by 79.54% from $136.551 million in January 2023, against exports of $245.169 million in January 2024. However, on a MoM basis, exports to China fell by 4.96% during January 2024 against $257.978 million recorded in December 2023, the SBP report stated.

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Cumulatively, Pakistan’s exports to other countries witnessed an increase of 9.32% in the first seven months.

On the other hand, imports from China into the country during the months under review clocked in at $6959.768 million against $6464.217 million last year, showing an increase of 7.66% in July-January (2023-24). On a YoY basis, imports from China rose 91.49% from $614.835 million in January 2023, against $1177.398 million in January 2024.

Published in The Express Tribune, March 1^st, 2024
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