Pakistan’s exports of goods and services to China surged by 42.02% during the first eight months of the current fiscal year (2023-24), compared to the corresponding period last year, according to the State Bank of Pakistan (SBP).
SBP data revealed that exports to China reached US $1895.720 million from July to February 2023-24, up from US $1334.804 million during the same period in 2022-23.
Year-on-year, exports to China rose by 20.60%, reaching $169.041 million in February 2024 from $140.166 million in February 2023. However, on a month-on-month basis, exports to China declined by 31.05% in February 2024 compared to January 2024, when they totaled $245.169 million.
Overall, Pakistan’s exports to other countries saw a 10.15% increase in the first eight months, rising from US $18.643 billion to US $20.537 billion, as per SBP data.
In contrast, imports from China into Pakistan during July-February 2023-24 amounted to US $8105.831 million, up from US $7065.406 million the previous year, marking a 14.72% increase.
Year-on-year, imports from China rose by 90.63% in February 2024, totaling US $1146.087 million compared to US $601.189 million in February 2023. However, on a month-on-month basis, imports from China experienced a slight decline of 2.65% in February 2024 compared to January 2024, when they stood at US $1177.373 million.
Overall, imports into Pakistan decreased by 8.76%, declining from US $37.354 billion to US $34.079 billion, according to the data.
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