Pakistan’s regional exports rise 31% in July-September 2021

ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 31.60 per cent during the first three 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 $946.212 million, which is 13.64 per cent of Pakistan’s overall exports of $6.933 billion during July-September 2021/22, the State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving behind other countries 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 69.73 per cent to $559.153 million in three months of this year from $329.421 million last year, while exports to Bangladesh also increased 37.572 per cent to $175.389 million from $127.487 million.

The country’s exports to Afghanistan; however, dropped 39.12 per cent to $127.647 million this year from $209.868 million, whereas exports to India plunged by a whopping 90.43 per cent to $0.099 million from $1.035, as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose 64.96 per cent to $81.017 million from $49.111 million in the previous year, whereas exports to Nepal also increased 5.18 per cent to $1.238 million from 1.177 million. In addition, exports to Maldives increased 53.54 per cent to $1.669 million from 1.087 million, it added.

The imports from seven regional countries were recorded at $4.128 billion during the period under review, compared with $2.895 billion during the last year, showing an increase of 42.61 per cent.

The imports from China during July-September 2021/22 were recorded at $4.012 billion against $2.793 billion during July-September 2020/21, showing a growth of 43.60 per cent during the period.

Among other countries, imports from India were worth $42.502 million against the imports of $49.947 million, registering a decrease of 14.90 per cent, while imports from Afghanistan increased 88.49 per cent from $17.820 million to $33.589 million.

Meanwhile, imports from Sri Lanka witnessed 3.27 per cent increase from $21.313 million to $22.010 million, whereas Pakistan’s imports from Bangladesh were recorded at $17.446 million from $12.118 million during the last year.

The imports from Nepal witnessed a decrease of 20.80 per cent from $0.274 million to $0.217 million, it said.