Pakistan’s exports to seven regional countries have seen a robust increase of 21.68% in the first seven months (July-Jan) of the fiscal year 2023-24, compared to the same period last year.
According to the State Bank of Pakistan (SBP), these exports have contributed $2.61 billion, representing 14.54% of Pakistan’s total exports of $17.98 billion during July-January (2023-24).
China remains the top destination for Pakistani goods among the neighboring countries, with exports soaring by 44.53% to reach $1.73 billion, up from $1.19 billion in the previous year.
Despite this increase, trade with Afghanistan showed a marginal decline of 0.08%, with exports slightly dropping from $285.177 million to $284.927 million.
Conversely, exports to Bangladesh experienced a decrease of 23.27%, totaling $367.776 million, down from $479.357 million.
However, exports to Sri Lanka witnessed a significant rise of 24.65%, amounting to $227.254 million compared to $182.313 million in the prior year.
Meanwhile, trade with India remained minimal, with exports decreasing to $0.150 million from $0.153 million.
Exports to Nepal saw a modest increase of 2.38%, totaling $1.887 million, and exports to the Maldives rose by 12.45%, reaching $5.348 million.
On the import front, Pakistan’s purchases from these seven regional countries amounted to $7.15 billion, marking a 7.33% increase from the previous year’s $6.66 billion.
Imports from China, however, declined by 7.66% to $6.96 billion from $6.46 billion.
Imports from India showed a growth of 15.43%, totaling $120.260 million, while imports from Afghanistan dropped significantly by 61.68%, from $13.389 million to $5.130 million.
Imports from Sri Lanka and Bangladesh recorded slight adjustments, with increases and decreases reflective of the dynamic trade relations within the region.
Good growth but it did not went like India and other progressing countries.
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