Islamabad, 8 January, 2024 (GNP): The State Bank of Pakistan (SBP) reported a notable rise of 39.44 percent in Pakistan’s export of goods and services to China within the initial five months of the current fiscal year (2023-24) in comparison to the corresponding period in the previous year.
According to SBP data, the total exports to China amounted to US $1223.532 million from July to November (2023-24), marking a significant increase compared to the US $877.444 million .
Year-over-year, there was a notable increase in exports to China, rising by 36.29 percent from $199.058 million in November 2022 to $271.316 million in November 2023.
According to SBP data, the exports to China experienced a month-on-month decline of 14.90 percent in November 2023, with exports amounting to $318.842 million in October 2023.
SBP data indicates that Pakistan’s overall exports to other countries saw a growth of 4.99 percent in the initial five months, escalating from US $11.915 billion to US $12.510 billion.
During the months under review (July–November 2023-24), imports from China to Pakistan amounted to US $4741.099 million, reflecting a 6.03 percent decrease compared to the US $5045.390 million recorded in the same period last year.
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Year-on-year, imports from China registered a rise of 10.71 percent, climbing from US $906.128 million in November 2022 to US $1003.248 million in November 2023.
As per the data, the overall imports into the country experienced a decline of 16.02 percent, decreasing from $25.341 billion to US $21.281 billion.
