Good news for Pakistan on the regional exports front

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Good news for Pakistan on the regional exports front

ISLAMABAD - Pakistan’s exports to the seven regional countries witnessed an increase of 28.13 percent in first four months of current financial year (2021-22), as compared to the corresponding months of last year.

The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal and the Maldives account for a small amount of $1,279.383 million, which is 13.21 percent of Pakistan’s overall exports of $9,681.030 million during July-October (2021-22), State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbouring, leaving behind other countries such Bangladesh and Afghanistan.

Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.

Pakistan’s exports to China posted growth of 65.21 percent to $763.572 million in four months of this year from $462.268 million during last year while exports to Bangladesh also increased by 42.84 percent to $242.511 million from $169.777 million.

The country’s exports to Afghanistan, however, dropped by 46.47 percent to $158.721 million this year from $296.563 million, whereas exports to India plunged by a whopping 92.04 percent to $0.125 million from $1.571 as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose by 67.13 percent to $108.903 million from $65.160 million in the previous year, whereas exports to Nepal also increased by 108.21 percent to $3.346 million from 1.607 million, in addition exports to Maldives increased by 41.16 percent to $2.205 million from 1.562 million, it added. On the other hand, the imports from seven regional countries were recorded at $5,568.928 million during the period under review as compared to $3,738.867 million during last year, showing increase of 48.94 percent.

The imports from China during July-October 2021-22 were recorded at $5,408.462 million against the $3,594.313 million during July-October 2020-21, showing an increase of 50.47 percent during the period.

Among other countries, imports from India worth $54.868 million against the imports of $65.597 million, decrease of 16.35 percent while imports from Afghanistan increased by 51.16 percent from $31.588 million to $47.751 million.

Meanwhile, imports from Sri Lanka witnessed 5.07 percent increase from $26.835 million to $28.198 million whereas Pakistan Imports from Bangladesh recorded at $20.194 million from $28.258 million during last year.

The imports from Nepal into the country witnessed decrease of 23.82 percent from $0.340 million to $0.259 million, it said.