ISLAMABAD, Oct 6 (APP): Pakistan’s export of goods and services to China witnessed an increase of 5.16 per cent during the first two months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported.
The overall exports to China were recorded at US $350.297 million during July-August (2023-24) against exports of US $333.077 million during July-August (2022-23), showing growth of 5.16 per cent, SBP data revealed.
On a year-to-year basis, the exports to China also surged by 25.09 per cent from $159.021 million in August 2022, against the exports of $198.932 million in August 2023.
Meanwhile, on a month-on-month basis, the exports to China rose by 31.42 per cent during August 2023 as compared to the exports of $151.365 million in July 2023, the SBP data revealed.
Overall Pakistan’s exports to other countries witnessed a decrease of 8.26 per cent in the first two months, from US $ 4.951 billion to US $ 4.541 billion, the SBP data revealed.
On the other hand, the imports from China into the country during the months under review were recorded at US $ 1861.702 million against US $2377.070 million last year, showing a decline of 21.68 per cent in July-August (2023-24).
On a year-on-year basis, the imports for China also witnessed a decrease of 28.17 per cent from US $1251.219 million in August 2022, against the imports of US $898.722 million in August 2023.
On a month-on-month basis, the imports from China into the country dipped by 6.67 per cent during August 2023, as compared to the imports of US $962.980 million during July 2023, according to the data.
The overall imports into the country witnessed a decrease of 26.01 per cent, from $11.474 billion to US $ 8.489 billion, according to the data.