Pakistan’s exports to seven regional countries reached $2.95 billion in 8 months

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Pakistan’s exports to seven regional countries observed growth of 26.47 percent during the first eight months of the financial year (2021-22), the State Bank of Pakistan (SBP) reported.

Exports to Afghanistan, China, Sri Lanka, India, Bangladesh, Nepal, and the Maldives accounted for $2954.604 million, showing 14.33 percent of the country’s total exports of $20616.992 million in July-February (2021-22), as per the report.

The data revealed that China remained at the top of the list of countries in terms of Pakistan’s exports to its neighboring, followed by Bangladesh and Afghanistan.

Exports to China showed growth of 57.90 percent to $1,841.113 million during eight months, from $1,165.949 million in the last year. Trading with Bangladesh also rose by 48.83 percent to $559.118 million from $375.669 million.

Read more: Pakistan’s regional exports increase 30.9 percent in five months

Moreover, exports to Sri Lanka grew by 59.38 percent to $249.079 million from $156.272 million last year, whereas exports to Nepal also rose by 58.06 percent to $4.508 million from $2.852 million.

The country’s exports to the Maldives grew by 22.34 percent to $4.287 million from $3.504 million, the report unveiled.

However, shipping to Afghanistan fell by 53.02 percent to $295.866 million this year, from $629.787 million, while exports to India also decreased by 69.64 percent to $0.633 million from $2.085.

Meanwhile, imports from seven regional countries were noted at $11,648.278 million within the period under review, when compared to $8,222.207 million during last year, an increase of 41.66 percent.

During July-Feb 2021-22, imports from China were recorded at $11,284.487 million, as compared to $7,863.325 million during the same period last year, an increase of 43.50 percent.

According to the report, Indian imports worth $121.761 million against imports of $126.041 million, showing a decrease of 3.39 percent while imports from Afghanistan dropped by 2.24 percent from $122.074 million to $119.328 million.

Imports from Sri Lanka saw a 4.76 percent drop from $56.350 million to $53.664 million, while the country’s imports from Bangladesh were recorded at $67.025 million from $53.668 million during last year.

Furthermore, imports from Nepal witnessed an increase of 8.77 percent from $0.741 million to $0.806 million, the report said.

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