Pakistan’s exports regional countries saw a growth of 9.14 percent while imports grew by nearly 36 percent in FY21 from a year ago.
Total exports of Pakistan during the fiscal year 2020-21 were worth $25.30 billion whereas, the number of exports to the regional countries such as Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan, and the Maldives was only worth $3.925 billion during this period which comes to just 14.21 % of the total exports. Out of this list of the regional countries, China stands at the top.
The exports to China increased by 22.85% to $2.043 billion during the outgoing year as compared to $1.663 billion in the fiscal year 2019-20. A far as the imports from China are concerned, there was an increase of 39% to 13.302 billion during this outgoing fiscal year as compared to $9.568 billion during the previous fiscal year.
Total imports from the regional countries too increased by 35.78%. During the financial year 2019-20, the import from these countries were worth $10.183 billion while in the last fiscal year, the amount of imports comes to $13.827 billion. This is the big amount that resulted in the expansion in the trade deficit during the fiscal year 2020-21. Out of total imports from the regional countries, the share of China stands at 96.2.
Regional exports by countries
The exports to Afghanistan increased by 10.47% to $983.295 million during the period, under consideration as compared to $890.052 million in the previous year.
The exports to India were worth $28.644 million in the fiscal year 2019-20 while the amount of exports to India comes to $3.139 million during the outgoing fiscal year.
Meanwhile, the export from Pakistan to Iran were worth $0.155 million during the outgoing financial year as compared to $0.055 million during the previous year, showing an increase of 181.8%.
Pakistan’s exports to Bangladesh were worth $695.102 million during the fiscal year 2019-20 while the amounts of exports to this country come to $615.212 million, showing a decrease of 11.49%.
The exports to Sri Lanka were worth $289.120 million during 2019-20 while in 2020-21, the exports were worth $270.320, indicating a reduction of 6.50%.
The exports to the Maldives also came down by 28.6% as the number of exports was $8.478 million in 2019-20 which was only $6.052 million during the outgoing fiscal year.
The exports to Bhutan in financial terms come to $0.155 million in 2020-21 as compared to $0.094 million during 2019-20.