Pakistan’s exports to seven regional countries increase by 20% in 10MFY24

Exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives accounted for $3.655 billion while imports recorded $10.925 billion 

Pakistan’s exports to the seven regional countries increased by 20.61% in the first 10 months (July-April) of the ongoing financial year 2023-24 as compared to the corresponding period of the last year.

According to the latest data released by the State Bank of Pakistan (SBP), the country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for $3.655 billion, which is 14.24% of Pakistan’s overall exports of $25.669  million during July-April (2023-24).

China tops the list as Pakistan’s exports to China increased by 37.68% to $2.341 billion in 10 months of this year from $1.7 billion last year while exports to Afghanistan witnessed a nominal decline of 0.54% from $435.954 million to $433.567 million.

Pakistan’s exports to Bangladesh also decreased by 15.82% to $542.165 million this year from $644.104 whereas exports to Sri Lanka rose by 35.83% to $326.995 million from $240.732.

The exports to India increased to $1.376 million from $0.250 million in the previous year.

Exports to Nepal decreased by 1.38% to $2.420 million from 2.454 million while to Maldives increased by 13.90% to $7.671 million from 6.783 million, it added.

On the other hand, the imports from seven regional countries were recorded at $10.925 billion during the period under review as compared to $8.617 billion during last year, showing an increase of 26.77%.

The imports from China during July-April 2023-24 were recorded at $10.648 billion against the $8.343 billion during July-April 2022-23, showing an increase of 26.61% during the period.

Among other countries, imports from India are worth $172.076 million against the imports of $151.987 million, an increase of 13.61% while imports from Afghanistan decreased by 47.34 percent from $13.959 million to $7.350 million.

Meanwhile, imports from Sri Lanka increased to $49.055 million from $40.923 million whereas Pakistan imports from Bangladesh recorded $48.040 million from $66.218 million during last year.

The imports from Nepal into the country witnessed a decrease of 61.71% from $0.734 million to $0.281 million.

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