the State Bank of Pakistan (SBP), Pakistan’s exports of products and services to ChinaTincreased by 5.16 percent during the first two months of the current fiscal year (2023–24) compared to exports during the same period last year.
Pakistan’s exports to China increase: According to figures supplied by the central bank, overall exports to China increased by 5.16 percent from July through August of 2022–23 to July through August of 2023–24, totaling $350.297 million USD.
The exports to China increased by 25.09 percent year over year, from $159.021 million in August 2022 to $198.932 million in August 2023.
In contrast, compared to the exports of $151.365 million in July 2023, the exports to China increased by 31.42 percent in August 2023, according to the SBP data.
According to the SBP data, Pakistan’s exports to foreign nations fell by 8.26% overall in the first two months, from US $ 4.951 billion to US $ 4.541 billion.
In contrast, the country estimated China’s imports during the reviewed months at US $1861.702 million compared to US $2377.070 million the previous year, indicating a decrease of 21.68 percent in July-August (2023-24).
In comparison to August 2023, when imports were US $898.722 million, there was a 28.17 percent decline in China’s imports from August 2022’s $1251.219 million.
According to the data, on a monthly basis, China’s imports into the nation decreased by 6.67 percent in August 2023 compared to the imports of US $962.980 million in July 2023.
According to the figures, the total value of imports into the nation fell by 26.01 percent, from $11.474 billion to US $ 8.489 billion.