Pakistani exports to Saudi Arabia increase by 50%

Karachi: The volume of bilateral trade between Pakistan and Saudi Arabia has recorded a significant increase during the current financial year.

According to the statistics released by the State Bank of Pakistan (SBP) in this regard, in the first seven months of the financial year, Pakistan's exports to Saudi Arabia have increased by 50.29% and imports from Saudi Arabia by 38% on an annual basis.

In the first seven months of the current fiscal year, Saudi Arabia earned $386.20 million in foreign exchange from exports, which is 50.29% higher than $256.96 million in the same period of the previous fiscal year, told the report.

It has also been added in the statistics released by SBP that the volume of Pakistani exports to Saudi Arabia in January was recorded at 57.97 million dollars, which was 52.61 million dollars in December and 35.58 million dollars in January last year.

According to statistics, in the first seven months of the current financial year, the volume of imports from Saudi Arabia was recorded at 2.78 billion dollars, which is 38% more than the same period of the previous financial year.

Imports from Saudi Arabia were recorded at $389.17 million in January, which was $362.53 million in December and $265.68 million in January last year.