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

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.

Sputnik Opinion

Navigating U.S. Sanctions: India's Backing of Chabahar Port & Pak-Iran Gas Pipeline Dilemma

17 May, 14:57