Trade with regional countries reaches $4.1b

China comes on top as shipments hit $2.6b in July-May FY25

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ISLAMABAD:

Pakistan's exports to seven regional countries increased 1% during the first 11 months of fiscal year 2024-25 compared to the corresponding months of the previous year.

Exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal and the Maldives accounted for a small amount of $4.085 billion, which was 13.75% of Pakistan's overall exports of $29.690 billion during July-May 2024-25, the State Bank of Pakistan (SBP) reported.

China topped the list of countries in terms of Pakistan's exports to regional states, leaving behind other nations such as Bangladesh and Afghanistan. Pakistan also carried out border trade with farther neighbours including Sri Lanka, India, Nepal and the Maldives.

Pakistan's exports to China registered a decrease of 11.19% from $2.556 billion in 11MFY24 to $2.270 billion in 11MFY25 whereas exports to Afghanistan surged to $723.442 million from $511.627 million.

Exports to Bangladesh increased 21.45% to $728.303 million in July-May 2024-25 from $599.650 million in the previous year whereas shipments to Sri Lanka decreased to $352.371 million from $363.362 million.

Pakistan's exports to Nepal dipped to $2.323 million from $2.552 million in the previous year while goods flow to the Maldives increased 2% to $8.588 million from $8.419 million. Exports to India decreased to $0.405 million from $3.428 million, the SBP added.

On the other hand, imports from the seven regional countries were recorded at $15.256 billion during the period under review as compared to $12.452 billion in the previous year, showing an increase of 22.51%.

Imports from China during July-May 2024-25 came in at $14.890 billion against $12.146 billion during July-May 2023-24, exhibiting an increase of 22.58%.

Among other countries, imports from India increased to $211.419 million from $189.075 million whereas imports from Afghanistan surged 142.63% from $10.188 million to $24.720 million.

Imports from Sri Lanka edged up 1.13% from $53.629 million to $54.238 million whereas imports from Bangladesh were recorded at $73.347 million as compared to $51.673 million last year.

Imports from Nepal were valued at $1.984 million as compared to $0.366 million last year, it said.