Business

Pakistan’s Exports increases by 14%

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Staff Reporter

3 years ago

Pakistan’s exports to 9 countries in the region increased by 14%

Pakistan’s exports to nine countries in the region increased by 14.3 percent during the first four months of the fiscal year on year-on-year basis, driven by increased shipments to China.

With reference to the data released by the State Bank of Pakistan.

The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and Maldives increased to one billion during July to October. 44 million dollars, which was recorded as 1 billion 26 million dollars during the same period last year.

During the fiscal year 2023, the exports to these countries of the region were 3 billion 330 million dollars after a decrease of 21.1% compared to the previous year.

Pakistan exports about 61% of the regional exports to China and the remaining 8 countries.

During July-October 2024, exports to China increased by 40.36% to $952.2 million, which was $678.3 million during the same period last year. Also 2 billion 2 million dollars were recorded.

Pakistan’s exports to Afghanistan during July-October increased by 2.64% to $128.5 million as against $176 million in the same period last fiscal year.

Until a few years ago, Afghanistan was the second largest export market for Pakistan after the United States, these figures do not include the amount of goods sent by land.

Except for exports, most trade with Tehran is conducted through informal channels in the border areas of Balochistan.

Pakistan’s exports to India stood at 69,000 dollars after a 37% decline, which was recorded at 110,000 dollars during the first four months of last fiscal year 2023. done

Similarly, Pakistan’s exports to Sri Lanka increased by 2.68 percent to $11.44 million from $11.14 million during the first four months of 2023.

During the first 4 months of 2024, exports to Nepal stood at $1.14 million after a year-on-year growth of 11.76% and exports to Maldives increased by 17.49% to $3 million, while no exports to Bhutan done.

Staff Reporter