Pakistan's exports to China increase by 5.16pc in two months: SBP
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Pakistan’s exports to China increase by 5.16pc in two months: SBP
ISLAMABAD (APP) - Pakistan’s export of goods and services to China witnessed an increase of 5.16 percent during the first two months of the current fiscal year 2023-24, as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) has reported.
The overall exports to China were recorded at $350.297 million during July-August 2023-24, against exports of $333.077 million during July-August 2022-23, showing growth of 5.16 percent, SBP data reveals.
On a year-on-year basis, the exports to China also surged by 25.09 percent from $159.021 million in August 2022, against the exports of $198.932 million in August 2023.
Meanwhile, on a month-on-month basis, the exports to China rose by 31.42 percent during August 2023, as compared to the exports of $151.365 million in July 2023, the SBP data details.
Overall Pakistan’s exports to other countries witnessed a decrease of 8.26 percent in the first two months, from $4.951 billion to $4.541 billion, SBP data discloses.
On the other hand, the imports from China into the country during the months under review were recorded at $1861.702 million against $2377.070 million last year, showing a decline of 21.68 percent in July-August 2023-24.
On a year-on-year basis, the imports for China also witnessed a decrease of 28.17 percent from $1251.219 million in August 2022, against the imports of $898.722 million in August 2023.
On a month-on-month basis, the imports from China into the country dipped by 6.67 percent during August 2023, as compared to the imports of $962.980 million during July 2023, according to SBP data.
The overall imports into the country witnessed a decrease of 26.01 percent, from $11.474 billion to $8.489 billion, the data adds.
