Business & Economy

Pakistan's Regional Exports Jump 20% in Ten Months With China & India Buying More

© RIZWAN TABASSUMRussian cargo ship
Russian cargo ship - Sputnik India, 1920, 26.05.2024
While Pakistani exports to India increased to nearly $1.4 million from $250,000 the previous year, trade with Afghanistan saw a slight decline of 0.54% from $436 million to $433.5 million.
Pakistan experienced a notable 20.61% increase in exports to seven regional countries in the first ten months of the fiscal year 2023-24 compared to the same period last year.

“The country’s exports to the regional countries, including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives, account for $3.6 billion, which is 14 per cent of Pakistan’s overall exports of $25.6 billion during July-April (2023-24),” the State Bank of Pakistan (SBP) stated.

Among these countries, China emerged as the top destination for Pakistani exports, surpassing others such as Bangladesh and Afghanistan.

Exports from Pakistan to China surged by nearly 38% to $2.3 billion over the span of ten months this year, up from $1.7 billion the previous year. Conversely, exports to Afghanistan experienced a marginal decrease of 0.54%, declining from $436 million to $433.5 million.

Meanwhile, exports to India rose to nearly $1.4 million from $250,000 the preceding year.
Likewise, exports to Bangladesh experienced a decline of nearly 16%, dropping to $542 million this year from $644 million, while exports to Sri Lanka saw a notable increase of nearly 36%, rising to $327 million from $241 million.

Meanwhile, exports to Nepal decreased marginally by 1.4%, reaching $2.42 million from $2.45 million, whereas exports to the Maldives increased by 13.9% to $7.7 million from $6.8 million.

Import figures from the seven regional countries totalled $10.9 billion during the reviewed period, compared to $8.6 billion the previous year, marking a significant increase of nearly 27% and showing a grave regional trade deficit for Pakistan.
A truck transporting cargo from Afghanistan to be exported to India is seen at Shahid Beheshti Port in the southeastern Iranian coastal city of Chabahar, on the Gulf of Oman, on February 25, 2019. (Photo by ATTA KENARE / AFP) - Sputnik India, 1920, 17.05.2024
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