Pakistan’s exports to China crossed $2.190 billion in the first sevenmonths of 2022, up 11.14 percent on a year-on-year basis, *APP* reported onTuesday, citing data from the General Administration of Customs of thePeople’s Republic of China (GACC).
Ghulam Qadir, Commercial Counsellor at the Pakistani Embassy in China, toldChina Economic Net that Pakistan’s exports to China increased even whentrade decreased with other countries in the month of July. Qadir said thatthe increase shows the commitment of the government to enhancing bilateraltrade.
“It is very promising that Pakistan’s exports to China are growing. TheGovernment of Pakistan is keen to harness the real potential of exportsthrough value addition, digital marketing, export-oriented investments, andencouraging enterprises from both countries to make Pakistan an integralpart of China’s supply chain”, Qadir added.
According to data from GACC, in the month of July, Pakistan’s exports toChina increased nearly 13 percent on a year-on-year basis to $272.92million, whereas in the same month last year, it was $242.30 million.
Overall, from January-July 2022, China’s imports from and exports toPakistan counted $16.73 billion, up 13.51% on a year-on-year basis while inthe same period in 2021, it was $12.76 billion irrespective of monsoon,flood, and COVID-19 which impacted Pakistan’s exports to other countries inFY2022.
According to the Pakistan Bureau of Statistics (PBS), Pakistan’s exportsdeclined by around 3 percent on a year-on-year basis in July and the majorreasons are monsoon, flood, and COVID-19, with the major decline noted incotton yarn, copper, and Chromium.
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The PBS further stated that Pakistan’s imports declined by around 10percent on a year-on-year basis in July. A major decline was noted inmachinery (-$178 million), Fertilizers (-$79 million), Iron and Steel (-$77million), electrical equipment (-$76 million), SKD/CKD kits for cars (-$75million), Coal (-$56.5 million), vessels (-$39 million), rape seeds (-$56million), fruits and vegetables (-28 million) and COVID-19 Vaccines (-$167million).
The total volume of trade between China and Pakistan increased by nearly 8percent in the month of July to $2.35 billion as compared to 2021 in thesame month which was $2.18 billion.
The exports of major products to China increased in rice, sesame seeds,pine nuts, seafood, and other agricultural products.
