AVN Report
ISLAMABAD: Pakistan’s exports to seven regional countries experienced a significant upswing, registering a remarkable 16.29pc increase in the initial five months of the current financial year (2023-24) compared to the corresponding period last year.
According to the State Bank of Pakistan (SBP), these regional exports, which encompass Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives, contributed $1855.996 million, constituting 14.83pc of Pakistan’s total exports, totaling $12510.845 million during July-November (2023-24).
China emerged as the leading recipient of Pakistan’s exports among neighboring countries, surpassing Bangladesh and Afghanistan. Pakistan engaged in border trade with more distant neighbors, including Sri Lanka, India, Nepal, and the Maldives.
Exports to China showed a notable increase of 39.44pc, reaching $1223.532 million in the first five months of this year compared to $877.444 million last year. Exports to Afghanistan also rose to $232.697 million from $213.282 million. However, exports to Bangladesh experienced a decline of 31.91pc, amounting to $248.457 million from $364.930 million.
Conversely, exports to Sri Lanka increased by 7.61pc, reaching $145.970 million from $135.643 million. Notably, exports to India decreased to $0.069 million from $0.112 million in the previous year. Exports to Nepal witnessed a growth of 15.48pc, reaching $1.439 million from $1.246 million, while exports to the Maldives increased by 15.10pc, reaching $3.832 million from $3.329 million.
In contrast, imports from the seven regional countries amounted to $4884.440 million during the review period, reflecting a 5.98pc decline from $5195.286 million last year. Notably, imports from China during July-November 2023-24 decreased by 6.03pc, standing at $4741.099 million compared to $5045.390 million during the same period in 2022-23.
Among other countries, imports from India increased by 14.33pc, totaling $88.906 million against $77.757 million. However, imports from Afghanistan witnessed a substantial decrease of 72.34pc, dropping from $11.523 million to $3.187 million.
Concurrently, imports from Sri Lanka increased slightly to $24.965 million from $24.962 million, while imports from Bangladesh recorded $26.085 million, down from $35.622 million in the previous year. Importantly, imports from Nepal into the country saw a significant decline of 82.11pc, falling from $0.302 million to $0.054 million.
