Regional exports post meager 1.8pc growth

Pakistan’s exports to nine regional countries posted a growth of 1.818 per cent while imports from the region grew by nearly 31pc in first 10 months of the ongoing fiscal year (10MFY21) from a year ago, latest data released by the State Bank of Pakistan showed.

The country’s exports to Afgha­nistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives account for a small amount of $3.191 billion — just 15.26pc of Pakistan’s total global exports of $20.906bn in 10MFY21.

China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving other populous countries India and Bangladesh behind. Pakistan carried out its border trade with the farther neighbour Nepal, Sri Lanka, Bhutan, Bangla­desh and Maldives via sea only.

On the other hand, imports from these countries edged up to $10.754bn in 10MFY21 against $7.638bn over the corresponding period last year, showing an increase of 30.97pc. As a result of huge imports, Pakistan’s trade deficit with the region expanded during the period under review.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

Must Read

Solarisation of agricultural tube wells to save Pakistan $2.7 billion in...

After Balochistan, federal government will collaborate with the governments of Punjab, Sindh, and KP to convert agricultural tube wells to solar energy.