BEIJING: Pakistan’s export to China crossed $1.918 billion in the first half (H1) of this year, up 10.97 percent from $1.728 billion in the same period of the previous year, which continue to increase on yearly basis, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).
According to details, despite the epidemic of COVID-19, bilateral trade has increased significantly.
In the first half of this year, the total volume of trade between China and Pakistan increased nearly 15 percent amounting to $ 14.39 billion as compared with the same period in 2021 which was $12.55 billion due to COVID-19.
Compared with data of the first half of 2021, this year Pakistan’s exports to China in January increased by 17.80% amounting to $382.22 million; in February it was up by nearly 30% crossing $287.65 million; in March it increased 7.23% amounting to $367.71 million; COVID-19 impacted Pakistan’s exports in April causing a decrease of 21.15% standing at $283.53 million; in May it increased nearly 3% reaching $280.97 million while in June it increased by nearly 54% crossing $316.36 million.
Pakistan can become a food basket for China because the Chinese market is huge and has good buying power, therefore Pakistan should take advantage of its good relationship and China can help relocate its industries & technologies to Pakistan to increase its exports to China and around the globe.
It is to be noted that Pakistan is expected to achieve a figure of $32 billion in bilateral trade within the next two-three years and is likely to achieve a figure of $50 billion before 2030.
