Exports to regional countries jump over 20 per cent

By Ali Imran

ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 20.50 percent in first months of current financial year (2021-22) as compared to the corresponding month of last year.
The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $282.020 million, which is 12.49 percent of Pakistan’s overall exports of $2257.042 million in July 2021-22, State Bank of Pakistan (SBP) reported.
China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving behind other countries such Bangladesh and Afghanistan.
Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.
Pakistan’s exports to China posted growth of 55.26 percent to $165.878 million in July 2022 from $106.775 million in July 2021 While exports to Bangladesh also increased by 5.66 percent to $51.033million from $48.297 million. The country’s exports to Afghanistan however dropped by 38.57 percent to $38.557million this year from $62.774 million whereas exports to India plunged by a whopping 87.81pc to $0.054 million from $0.443 as the government has suspended trade relations with India.
Similarly, exports to Sri Lanka rose by 68.55 percent to $235.991 million from $15.420 million in the previous year. Exports to Nepal declined by 39.86 percent to $0.273 million from 0.454million while to Maldives dipped by 1.21 percent to 0.325 million from 0.329million, it added.
On the other hand, the imports from seven regional countries were recorded at $1350.535 million during July 2022 compared to $ 1131.427 million during July 2021, showing increase of 19.36 percent.
The imports from China during July 2022 were recorded at $1311.976 million against the $1100.268 million during July 2021, showing an increase of 19.24 percent during the period.
Among other countries, imports from India worth $12.405 million against the imports of $15.833 million, decrease of 1.52 percent while imports from Afghanistan increased by 194.23 percent from $4.216 million to $12.405 million.
Meanwhile, imports from Sri Lanka witnessed 2.62 percent decline from $7.096 million to $6.910 million whereas Pakistan Imports from Bangladesh recorded at $ 3.518 million from $3.948 million during July 2021. The imports from Nepal into the country witnessed decline of 4.54 percent from $0.066 million to $0.063 million, it added.