Pakistan’s regional exports increase 14.21 percent in 4 months

28 November 2023

Published in: The Nation

ISLAMABAD-Pakistan’s exports to the seven regional countries witnessed an increase of 14.21 percent in the first four months of the fiscal year (2023-24) 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 $1,443.868 million, which is 14.76 percent of Pakistan’s overall exports of $9,776.912 million during July-October (2023-24), 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 as Bangladesh and Afghanistan. Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal, and Maldives. Pakistan’s exports to China witnessed an increase of 40.36 percent to $952.216 million in four months of this year from $678.386 million during last year while exports to Afghanistan also surged to $180.686 million from $176.019 million.
The country’s exports to Bangladesh, however, decreased by 34.73 percent to $192.193 million this year from $294.499 million, whereas exports to Sri Lanka rose by 2.68 percent to $114.473 million from $111.489. The exports to India decreased to $0.069 million from $0.110 million in the previous year. Exports to Nepal increased by 10.91 percent to $1.138 million from $1.026 million while to Maldives increased by 17.87 percent to $3.093 million from $2.624 million, it added.
On the other hand, the imports from seven regional countries were recorded at $3,855.354 million during the period under review as compared to $4,259.578 million during last year, showing a decline of 9.48 percent. The imports from China during July-October 2023-24 were recorded at $3,737.818 million against the $4,139.263 million during July-October 2022-23, showing a decrease of 9.69 percent during the period.
Among other countries, imports from India are worth $73.575 million against the imports of $62.603 million, an increase of 17.52 percent while imports from Afghanistan decreased by 81.30 percent from $10.151 million to $1.898 million. Meanwhile, imports from Sri Lanka witnessed a 4.30 percent increase from $20.348 million to $21.224 million, whereas Pakistan imports from Bangladesh recorded $20.672 million from $26.991 million during last year. The imports from Nepal into the country witnessed a decrease of 81.08 percent from $0.222 million to $0.042 million, it added.