Daily Times

ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 44.53 per cent during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to China were recorded at US $1726.679 million during July-January (2023-24) against exports of US $1194.639 million during July-January (2022-23), SBP data revealed. On a year-to-year basis, the exports to China also surged by 79.54 per cent from $136.551 million in January 2023, against the exports of $245.169 million in January 2024.

Meanwhile, on a month-on-month basis, the exports to China decreased by 4.96 per cent during January 2024 as compared to the exports of $257.978 million in December 2023, the SBP data revealed. Overall Pakistan’s exports to other countries witnessed an increase of 9.32 per cent in the first seven months, from US $16.444 billion to US $17.977 billion, the SBP data revealed.

On the other hand, the imports from China into the country during the months under review were recorded at US $6959.768 million against US $6464.217 million last year, showing an increase of 7.66 per cent in July-January (2023-24). On a year-on-year basis, the imports for China witnessed an increase of 91.49 per cent from US $614.835 million in January 2023, against the imports of US $1177.398 million in January 2024. On a month-on-month basis, the imports from China into the country also increased by 13.07 per cent during January 2024, as compared to the imports of US $1041.271 million during December 2023, according to the data.