Pakistan’s export of goods and services to China witnessed an increase of 5.16 percent during the first two months of the current fiscal year (2023-24) compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.
The overall exports to China were recorded at US $350.297 million during July-August (2023-24) against exports of US $333.077 million during July-August (2022-23), showing growth of 5.16 percent, SBP data revealed.
On a year-to-year basis, the exports to China also surged by 25.09 percent from $159.021 million in August 2022, against the exports of $198.932 million in August 2023.
Meanwhile, on a month-on-month basis, the exports to China rose by 31.42 percent during August 2023 as compared to the exports of $151.365 million in July 2023, the SBP data revealed.
Overall Pakistan’s exports to other countries decreased 8.26 percent in the first two months, from US $ 4.951 billion to US $ 4.541 billion, the SBP data revealed.
On the other hand, the imports from China into the country during the months under review were recorded at US $ 1861.702 million against US $2377.070 million last year, showing a decline of 21.68 percent in July-August (2023-24).
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On a year-on-year basis, the imports for China also witnessed a decrease of 28.17 percent from US $1251.219 million in August 2022, against the imports of US $898.722 million in August 2023.
On a month-on-month basis, the imports from China into the country dipped by 6.67 percent during August 2023, as compared to the imports of US $962.980 million during July 2023, according to the data.
According to the data, the overall imports into the country witnessed a decrease of 26.01 percent, from $11.474 billion to US $ 8.489 billion.
