BEIJING: Pakistan export to China was increased by 68.9% in 2021 and crossed the historical figure of $3.58 billion while the total import and export between the two countries stood at $27.82 billion, according to the official data from the General Administration of Customs (GACC) of China.
Pakistan’s export to China crossed $365.35 million in December 2021, up 17 percent, while in the same period of the previous year, it was $312.33 million, which is the second-highest figure of the year.
Pakistan’s exports made the highest gain in November 2021 when its export volume to China was $379.17 million. Last year, the highest value was in December 2020 when its export volume was $312.33 million.
Overall, from January to December 2021, China’s imports from Pakistan totaled $3.58 billion irrespective of COVID-19, while in the same period of last year it was $2.12 billion.
This year China’s export to Pakistan was increased by 57.8% to $24.23 billion, while last year it was $15.36 billion and in 2019 it was $16.17 billion.
Shan Saeed, Chief Economist at Juwai IQI, said trade between the two countries has made significant progress as both export and import volumes are on the rise. This is a testament of China’s commitment to BRI projects with CPEC under the limelight.
The trade and commerce volumes signify that China wants to provide unconditional support and import more from Pakistan in order to uplift the economy of Pakistan.
Shan described that China will continue to support Pakistan for a very long time to come and Pakistan values Chinese unconditional support.
It is worth mentioning that among the major products traded between the two countries, electronics, textiles, seafood, and agricultural products have been increased year-on-year, which has promoted Pakistan’s economic recovery. -Agencies