Regional exports increase 34.8pc in 2MFY22

ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 34.75 per cent in first two months of current financial year (2MFY22) as compared to the corresponding period of last year, the State Bank of Pakistan (SBP) reported on Tuesday.

As per details, the country’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 per cent of Pakistan’s overall exports of $4601.041 million during July-August.

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.

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Pakistan’s exports to China posted growth of 63.37 per cent 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 per cent to $106.415 million from $85.869 million.

The country’s exports to Afghanistan, however, dropped by 22.71 percent to $95.672 million this year from $123.785 million whereas exports to India plunged by a whopping 88.86 per cent 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 per cent to $52.769 million from $28.772 million in FY21.

Exports to Nepal declined by 3.07 per cent to $0.694 million from 0.716 million while to Maldives increased by 28.83 per cent to $0.840 million from 0.652 million.

On the other hand, imports from seven regional countries were recorded at $2776.315 million during 2MFY22 as compared to $1961.659 million during 2MFY21, showing increase of 41.52 per cent.

The imports from China during the period under review were recorded at $2704.399 million against the $1899.025 million during July-August FY21, showing an increase of 42.41 per cent.

Among other countries, imports from India were recorded at $28.867 million against the imports of $31.437 million, a decrease of 8.17 per cent, while imports from Afghanistan increased by 99.28 per cent from $9.514 million to $18.960 million.

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