Pakistan’s regional exports increase 34.75% in July-August 2021

Islamabad: Pakistan’s exports to the seven regional countries witnessed an increase of 34.75 % in first two months of current financial year (2021-22) as compared to the corresponding months of last year.

As per State Bank of Pakistan (SBP), Pakistan’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $593.972 million, which is 12.90 % of Pakistan’s overall exports of $4601.041 million during July-August (2021-22).

China tops the list of countries in terms of Pakistan’s exports to its neighbouring, leaving behind other countries such Bangladesh and Afghanistan.

Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.

Pakistan’s exports to China posted growth of 63.37 % to $337.525 million in two months of this year from $200.458 million during last year While exports to Bangladesh also increased by 23.92 % to $106.415 million from $85.869 million.

The country’s exports to Afghanistan however dropped by 22.71 % to $95.672million this year from $123.785 million whereas exports to India plunged by a whopping 88.86 % to $0.057 million from $0.512 as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose by 83.40 % to $52.769 million from $28.772 million in 2020.

However, exports to Nepal declined by 3.07 % to $0.694 million from 0.716 million while to Maldives increased by 28.83 % to $0.840 million from 0.652million.

Meanwhile, the imports from seven regional countries were recorded at $2776.315 million during the period under review as compared to $ 1961.659 million during last year, showing increase of 41.52 %.

The imports from China during July-August 2021-22 were recorded at $2704.399 million against the $1899.025 million during July-August 2020-21, showing an increase of 42.41 % during the period.

Furthermore, the imports from Sri Lanka witnessed 2.26 % increase from $13.437 million to $14.092 million whereas, in 2020, Pakistan Imports from Bangladesh recorded at $ 9.727 million from $7.813 million.

COURTESY: APP