Positive development for Pakistan on exports to China

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Positive development for Pakistan on exports to China

BEIJING - Pakistan’s exports to China crossed $312.33 million in December 2020, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).

Exports increased by 41% on a year-on-year basis last December, according to GACC figures received by Pakistan.

Despite the epidemic of COVID-19, bilateral trade has increased significantly. Pakistan’s exports stood at $312.33 million in December 2020, up 41 percent from $221 million in the same month of the previous year, which grew for six consecutive months, China Economic Net (CEN) reported.

Last month Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood announced via Twitter that Pakistan’s export to China registered an increase of 30% in November 2020.

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Pakistan made the highest gain in December 2020 when its export volume was $312.33 million against total exports to China.

Overall, from January to December 2020, China’s imports from Pakistan counted $2.12 billion irrespective of COVID-19 that impacted fiscal 2020.

This year China’s export to Pakistan decreased 4.95 percent amounting to $15.36 billion as compared to the previous year which was $ 16.17 billion.

The total volume of trade between China and Pakistan was decreased by 2.69 percent amounting to $17.49 billion as compared to 2019 which was $17.97 billion due to COVID-19.

In the fourth quarter, China’s imports rose 44% from the previous year to $695.63 million, while the overall imports and exports in last quarter increased 4% amounting to $5.46 billion whereas in the last year it was $5.27 billion.