Pakistan's exports to regional countries surge by 3% in first quarter

Pakistan's exports to seven regional countries during the first quarter (July-September) of the ongoing fiscal year 2023-24 witnessed a 3 percent surge when compared to the same period last year.

According to data shared by the State Bank of Pakistan (SBP), exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives totaled $981.410 million.

This accounted for 13.98 percent of Pakistan's overall exports, which amounted to $7,018.956 million from July to September 2023-24.

China emerged as the leading destination for Pakistan's exports, surpassing countries like Bangladesh and Afghanistan.

Exports to China showed a significant increase of 26.42 percent reaching $633.374 million in the first three months of the fiscal year, compared to $501.000 million in the corresponding period last year.

Exports to Afghanistan also experienced a modest increase, reaching $128.533 million from $127.157 million.

In contrast, exports to Bangladesh decreased by 38.28 percent, amounting to $144.506 million from $234.144 million, and exports to Sri Lanka dropped by 17.72 percent to $72.192 million from $87.743.

Notably, exports to India witnessed a decline from $0.101 million in the previous year to $0.044 million.