Exports to regional countries increase by 23.50% in 3 quarters

ISLAMABAD (PEN) – 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.

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.

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.