Daily Times

Pakistan’s exports to the seven regional countries witnessed an increase of 21.68 per cent in the first seven months of the financial 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 $2614.021 million, which is 14.54 per cent of Pakistan’s overall exports of $17977.963 million during July-January (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 44.53 per cent to $1726.679 million in seven months of this year from $1194.639 million last year while exports to Afghanistan witnessed a nominal decline of 0.08 percent from $285.177 million to $284.927 million.

The country’s exports to Bangladesh also decreased by 23.27 percent to $367.776 million this year from $479.357 whereas exports to Sri Lanka rose by 24.65 percent to $227.254 million from $182.313. The exports to India decreased to $0.150 million from $0.153 million in the previous year.

Exports to Nepal increased by 2.38 per cent to $1.887 million from 1843 million while to Maldives increased by 12.45 per cent to $5.348 million from 4.734 million, it added.

On the other hand, the imports from seven regional countries were recorded at $7153.643 million during the period under review as compared to $6664.926 million during last year, showing an increase of 7.33 per cent.

The imports from China during July-January 2023-24 were recorded at $6959.768 million against the $6464.217 million during July-January 2022-23, showing a decrease of 7.66 per cent during the period.

Among other countries, imports from India are worth $120.260 million against the imports of $104.772 million, an increase of 15.43 per cent while imports from Afghanistan decreased by 61.68 percent from $13.389 million to $5.130 million.

Meanwhile, imports from Sri Lanka increase to $33.945 million from $32.960 million whereas Pakistan imports from Bangladesh recorded $ 33.853 million from $48.690 million during last year.

The imports from Nepal into the country witnessed a decrease of 69.09 per cent from $0.495 million to $0.153 million, it added.