Pakistan’s exports to China surged by 26% during the fiscal year 2021-22 against the exports of FY 2020-21, cited by Annual Trade Statistics FY 2021-2022.
The Trade Development Authority of Pakistan (TDAP) released the revised Annual Trade Statistics for FY 2021-2022 in which all data and statistics used stand correct as of July 18, 2022.
According to the report, the country’s exports to China between July-June 2021-22 stayed at $2.969 billion which is 26% greater than the $2.354 billion exports reported in July-June 2020-21.
During FY 2021-22, Pakistan’s exports to various destinations of the world witnessed an increase of 25.51% against the exports of FY 2020-2021. The exports to different destinations of the world during FY 2021-22 were $31,760 million whereas in FY 2020-21 the export value was recorded at $25,304 million.
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Moreover, Pakistan’s imports from different partner states of the world in FY 2021-22 were recorded at $80,019 million which is 41.93% greater than the imports of FY 2020-21 when its worth was $56,380 million.
However, the country’s imports from China in FY 2021-22 were recorded at 36% growth which is lower than the overall increase of 41.93%. From July-June 2021-22, Pakistan’s imports from China were $20,839 million whereas from July-June 2020-21 it was reported as $15,297 million.
As per the data released by the Pakistan bureau of statistics (PBS), the exports from the country were registered at $26.228 billion in July-April (2021-22) compared to the exports of $20.905 billion recorded during July-April (2020-21), depicting a growth of 25.46 percent.
The imports, during the reviewed months, also climbed 46.41 percent increasing from $44.731 billion a year ago to $65.492 billion in July- April (2021-22).
Based on the statistics, the trade deficit in the period under review was reported at $39.264 billion, depicting a growth of 64.79 percent over the deficit of $23.826 billion reported during July- April (2020-21), the PBS data unveiled.