Pakistan's exports to China surged by 100% in September

Pakistan’s exports to China surged by 100% in September

Author: Agencies

Pakistan’s exports to China in September 2023 have surged by an impressive 100.5% compared to the corresponding month during the previous financial year, according to the Trade Development Authority Pakistan (TDAP)’s latest report.

The total value of Pakistan’s exports to China in September 2023 amounted to $350.2 million, marking a robust 100.5% increase compared to the exports valued at $174.7 million during the corresponding month in the previous financial year.

According to a Gwadar Pro’s report, in September, Pakistan’s total exports to all partner countries of the world were recorded at $2.465 billion, with China’s share amounting to $14.20 million. During the first quarter of FY 23- 24, Pakistan’s exports to all partner countries of the world reached $6.899 billion. Of this total, exports to China amounted to $729.7 million, accounting for approximately 10.57% of Pakistan’s overall exports.

Pakistan’s exports to China remained steady at $168.5 million, $211 million, and $350.2 million for July, August, and September, respectively, as per the official statistics.

In September 2023, Pakistan’s exports to various countries, showing an increase, were $111.0 million to the United Arab Emirates, $56.6 million to Saudi Arabia, $34.4 million to Malaysia, $33.6 million to Turkey, $33.2 million to Sri Lanka, $29.9 million to Viet Nam, $28.6 million to Poland, $27.3 million to South Korea, and $18.4 million to Yemen.

In September 2023, Pakistan’s imports from various countries totaled $3.954 billion, marking a decrease of 25.30% compared to the $5.293 billion recorded during the corresponding month in the previous fiscal year.

Pakistan’s imports from China in September 2023 amounted to $933 million, which is 1% less than the $926.17 million imports during the corresponding month last year.

Likewise, during the first quarter of FY23- 24, Pakistan’s total imports were recorded at $12.188 billion, reflecting a 25.36% decrease from the $16.329 billion recorded during the corresponding period in the previous fiscal year.