Exports to regional countries increase by 23.50% in 3 quarters

ISLAMABAD: Pakistan’s exports to the seven regional countries witnessed an increase of 23.50 percent in first three quarters of fiscal year (2021-22), as compared to the corresponding quarters of last year.

The country’s exports to seven regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal and the Maldives account for $3440.687 million, which is 14.51 percent of Pakistan’s overall exports of $23699.090 million during July-March (2021-22), State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbouring, leaving behind other countries such Bangladesh and Afghanistan.

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Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.

Pakistan’s exports to China posted growth of 51.27 percent to $2126.778 million in nine months of this year from $1405.890 million during last year while exports to Bangladesh also increased by 47.94 percent to $648.936 million from $438.626 million.

The country’s export to Afghanistan however dropped by 50.50 percent to $369.382 million this year from $746.347 million whereas exports to India also dipped by 54.21 percent to $1.006 million from $2.197.

Similarly, exports to Sri Lanka rose by 53.76 percent to $284.717 million from $185.165 million in the previous year whereas exports to Nepal also increased by 35.86 percent to $4.792 million from $3.527 million, in addition exports to Maldives increased by 24.32 percent to $5.076 million from $4.083 million, it added.

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On the other hand, the imports from seven regional countries were recorded at $13392.465 million during the period under review as compared to $9465.576 million during last year, showing increase of 41.48 percent.

The imports from China during July-March 2021-22 were recorded at $12987.0330 million against the $9070.683 million during July-March 2020-21, showing an increase of 43.17 percent during the period.

Among other countries, imports from India worth $139.334 million against the imports of $139.626 million, decrease of 0.20 percent while imports from Afghanistan increased by 3.48 percent from $127.455 million to $131.897 million.

Meanwhile, imports from Sri Lanka witnessed 3.38 percent decrease from $65.144 million to $62.936 million whereas Pakistan Imports from Bangladesh recorded at $72.617 million from $61.741 million during last year.

The imports from Nepal into the country witnessed increase of 24.25 percent from $0.878 million to $1.091 million, it said.

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