Exports to China have increased 68.9 percent in 2021 to $3.58 billion while total trade between the two countries stood at $27.82 billion
Pakistan has started getting the fruits of CPEC as the trade with China went up by 68.9 percent in 2021 to $3.58 billion and the total trade between China and Pakistan comes to $27.82 billion. This is as per the report, issued by the General Administration of Customs of China (GACC).
China’s Economic Net says (CEN) says that Pakistan’s exports to China exceeded $365.35 million in the month of December, last year which was an increase by 17 percent as compared to $312.33 in the same month in 2020 but in November, last year, Pakistan’s exports to China were bigger which came to $379.17 million.
The imports from China too, increased by 57.8 percent to $24.23 billion in 2021 which were $15.36 billion and $16.17 billion during the years 2020 and 2019 respectively.
Trade between the two countries is enhancing especially with reference to the CPEC which manifests that the work on Belt and Road Initiative (BRI) projects between the two neighboring countries are moving towards the peak.
China’s commitment to Pakistan seems clear. Pakistan and China deal with a number of products including electronics, textile, seafood, agriculture, leather, etc.
According to the data, released by the Pakistan Bureau of Statistics, Pakistan’s exports of leather products to China moved up by 9.41 percent during the first six months of the ongoing fiscal year to $319.79 million as compared to $292.28 million during the theses months in the previous financial year.
The share of leather garments in this export was 9.73 percent to 167.77 million and the share of leather gloves came to 9.12 percent which amounted to $142.6 million. The exports of the rest of the leather products enhanced by 7.16 percent to 9.39 million.
However, during the month of December, last year, the export of leather gloves came down by 2.79 percent and other leather products decreased by 7.33 percent while the export of leather garments moved up by 6.49 percent year-on-year basis.