Pakistan’s import from China drops 6.8pc in nine months

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ISLAMABAD: Pakistan’s imports involving goods and services from China witnessed a decrease of 6.84 per cent during the first three quarters of financial year (2019-20) compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported on Friday.

The imports from China into the country were recorded at $6,973.167 million during July-March FY20 as against the import of $7,485.193 million during July-March FY19.

The overall imports into the country decreased by 16.22pc from $39.312 billion in 3QFY19 to $32.935 billion in 3QFY20.

On the other hand, the exports to China during the period under review were recorded at $1,298.259 million, as against the export of $1,310.136 million during same period of last year, showing a negative growth of 0.90pc.

The overall exports of Pakistan witnessed an increase of 1.13pc in nine months, from $17.793 billion to $17.866 billion, the SBP data revealed.

Based on the trade figures, the trade of goods and services with China witnessed a decrease of 8.09pc in deficit during the first three quarters of the ongoing fiscal year as compared to the corresponding period of last year.

The deficit during the period under review was recorded at $5,674.908 million against $6,175.057 million during the same period of last year.

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