ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 31.60 per cent in first quarter of current financial year (Q1FY22) as compared to the corresponding period of last year.
According to details, the country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives totaled $946.212 million, which is 13.64pc of Pakistan’s overall exports of $6,933.080 million during July-September FY22, the State Bank of Pakistan (SBP) reported.
China tops the list of countries in terms of exports to neighbouring countries, leaving behind countries such as Bangladesh and Afghanistan.
Exports to China posted growth of 69.73pc amounting to $559.153 million in the period under review compared to $329.421 million during the same period last year.
The country’s exports to Afghanistan, however, dropped by 39.12pc to $127.647 million from $209.868 million in Q1FY22 whereas exports to India plunged by a whopping 90.43pc to $0.099 million from $1.035 in Q1FY21 as the government has suspended trade relations with the neigbouring country.
Similarly, exports to Sri Lanka rose by 64.96pc to $81.017 million from $49.111 million in the same period the previous year whereas exports to Nepal also increased by 5.18pc to $1.238 million from 1.177 million; in addition exports to Maldives increased by 53.54pc to $1.669 million from 1.087million.
On the other hand, imports from the seven regional countries were recorded at $4,128.996 million during the period under review as compared to $2,895.227 million in Q1FY22, showing an increase of 42.61pc.