Pakistan’s regional exports increase 20% in 11 months

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Pakistan's regional exports increase 20% in 11 months

ISLAMABAD, JUN 24 (DNA) — Pakistan’s exports to the seven regional countries witnessed an increase of 20.61 per cent in the first eleven 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 $4043.371 million, which is 14.09 per cent of Pakistan’s overall exports of $28,678.265  million during July-May (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 35.61 per cent to $2,553.481 million in eleven months of this year from $1,889.195 million last year while exports to Afghanistan also witnessed an increase of 6.12 percent from $478.614 million to $507.935 million.

The country’s exports to Bangladesh decreased by 14.56 percent to $605.744 million this year from $709.050 whereas exports to Sri Lanka rose by 36.68 percent to $361.690 million from $264.608.The exports to India increased to $3.552 million from $0.769 million in the previous year. Exports to Nepal decreased by 7.83 per cent to $2.552 million from 2.769 million while to Maldives increased by 8.99 cent to $8.419 million from 7.724 million, it added.

On the other hand, the imports from seven regional countries were recorded at $12,454.030 million during the period under review as compared to $9,344.623 million during last year, showing an increase of 33.27 per cent.

The imports from China during July-May 2023-24 were recorded at $12,148.884 million against the $9,039.079 million during July-May 2022-23, showing an increase of 56.33 per cent during the period.

Among other countries, imports from India are worth $189.075 million against the imports of $173.499 million, an increase of 8.97 per cent while imports from Afghanistan decreased by 33.56 percent from $15.277 million to $10.150 million.

Meanwhile, imports from Sri Lanka increased to $53.629 million from $44.295 million whereas Pakistan imports from Bangladesh recorded $ 51.673 million from $71.711 million during last year. The imports from Nepal into the country witnessed a decrease of 50.13 per cent from $0.734 million to $0.366 million, it added. — DNA