Pakistan experiences a 20% rise in regional exports within 11 months
Published on: June 25, 2024.
Filed under:
Pakistan’s exports to seven regional countries have experienced a significant increase of 20.61% during the first eleven months of the 2023-24 financial year compared to the same period last year. The State Bank of Pakistan (SBP) reported that exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives amounted to $4,043.371 million, which constitutes 14.09% of Pakistan’s overall exports of $28,678.265 million from July to May 2023-24.
China has emerged as the top destination for Pakistan’s exports among its neighboring countries, surpassing Bangladesh and Afghanistan. The country also engages in border trade with its more distant neighbors such as Sri Lanka, India, Nepal, and the Maldives.
Exports to China have seen a notable increase of 35.61% from $1,889.195 million to $2,553.481 million during the eleven months of this year, while exports to Afghanistan have increased by 6.12% from $478.614 million to $507.935 million. On the other hand, exports to Bangladesh have witnessed a decline of 14.56% from $709.050 million to $605.744 million. However, exports to Sri Lanka have risen by 36.68% from $264.608 million to $361.690 million. Additionally, exports to India have seen a significant increase from $0.769 million to $3.552 million in the previous year.
In terms of imports from these regional countries, there has been a 33.27% increase, with imports totaling $12,454.030 million during the reviewed period compared to $9,344.623 million from the previous year. Imports from China have experienced a significant increase of 56.33%, amounting to $12,148.884 million during July-May 2023-24, compared to $9,039.079 million during the same period in 2022-23. Imports from India have also increased by 8.97% from $173.499 million to $189.075 million. However, imports from Afghanistan have decreased by 33.56% from $15.277 million to $10.150 million.
Imports from Sri Lanka have increased to $53.629 million from $44.295 million, while imports from Bangladesh have decreased to $51.673 million from $71.711 million during the previous year. Nepal’s imports into Pakistan have experienced a significant decrease of 50.13% from $0.734 million to $0.366 million.
Overall, Pakistan’s exports to regional countries have shown impressive growth, particularly in the case of China and Afghanistan. The import figures also highlight the country’s increasing trade activity with its neighboring nations. The full article can be found at the source: [Source](https://dailytimes.com.pk).
