Pakistan’s regional exports rise 34.75% in July-August

ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 34.75 per cent in the first two months of the current financial year (2021/22), compared with the corresponding months of the last year.

The country’s exports to the regional countries, including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $593.972 million, which is 12.90 per cent of Pakistan’s overall exports of $4,601.041 million during July-August (2021/22), The State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbouring countries, leaving behind others such as Bangladesh and Afghanistan.

Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.

Pakistan’s exports to China posted a growth of 63.37 per cent to $337.525 million in two months of this year from $200.458 million during the last year, while exports to Bangladesh also increased 23.92 per cent to $106.415 million from $85.869 million.

The country’s exports to Afghanistan; however, dropped 22.71 per cent to $95.672million this year from $123.785 million, whereas exports to India plunged a whopping 88.86 per cent to $0.057 million from $0.512 million, as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose 83.40 per cent to $52.769 million from $28.772 million in the previous year.

Exports to Nepal declined 3.07 per cent to $0.694 million from 0.716 million, while to the Maldives increased 28.83 per cent to $0.840 million from 0.652 million, it added.

The imports from seven regional countries were recorded at $2,776.315 million during the period under review, compared with $1,961.659 million last year, showing an increase of 41.52 per cent.

The imports from China during July-August 2021/22 were recorded at $2,704.399 million against $1,899.025 million during July-August 2020/21, showing an increase of 42.41 per cent during the period.

Among other countries, imports from India were worth $28.867 million against the imports of $31.437 million, a decrease of 8.17 per cent, while imports from Afghanistan increased 99.28 per cent to $18.960 million from $9.514 million.

Meanwhile, imports from Sri Lanka witnessed an increase of 2.26 per cent to $14.092 million from $13.437 million, whereas Pakistan’s imports from Bangladesh were recorded at $9.727 million from $7.813 million last year.

The imports from Nepal witnessed an increase of 121.11 per cent to $0.090 million from $0.071 million, it added.