Pakistan’s exports to seven countries, including Afghanistan, have experienced a notable uptick, marking a 16.29 percent increase in the first five months of the fiscal year 2023-24 compared to the corresponding period last year.
According to Pakistan’s State Bank of Pakistan report, the regional countries, namely Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives, contributed $1855.996 million to Pakistan’s overall exports, representing 14.83 percent of the total exports amounting to $12510.845 million from July to November (2023-24).
China leads the list of countries in terms of Pakistan’s exports to its neighboring nations, surpassing countries like Bangladesh and Afghanistan. Border trade activities with Sri Lanka, India, Nepal, and the Maldives were also reported.
In the first five months of this year, Pakistan’s exports to China increased by 39.44 percent to $1223.532 million, up from $877.444 million last year. Similarly, exports to Afghanistan saw a surge to $232.697 million from $213.282 million, as per the report.
However, the report notes a 31.91 percent decrease in exports to Bangladesh, amounting to $248.457 million compared to $364.930 million last year. On the other hand, exports to Sri Lanka rose by 7.61 percent to $145.970 million from $135.643 million.
Exports to India declined to $0.069 million from $0.112 million in the previous year, the report stated.
Conversely, imports from seven regional countries during the review period totaled $4884.440 million, showing a 5.98 percent decline from $5195.286 million last year, according to the report.
Among these countries, imports from India increased by 14.33 percent, reaching $88.906 million compared to $77.757 million last year. In contrast, imports from Afghanistan plummeted by 72.34 percent, decreasing from $11.523 million to $3.187 million, according to the report.
