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Pakistan’s exports of goods and services to China have grown by 5.16% in the initial two months of the fiscal year 2023-24, reaching $350.297 million, compared to $333.077 million during the same period the previous year. This marks a substantial annual increase of 25.09%, according to the State Bank of Pakistan.
In August 2023, exports to China reached $198.932 million, a notable increase from the $159.021 million recorded in August 2022, indicating a significant monthly growth of 31.42%. In contrast, Pakistan’s overall exports to other nations fell by 8.26% during the same period, dropping from $4.951 billion to $4.541 billion.
Read more : Pakistan&s Textile Exports Face 12% YoY Decline in September 2023
Yearly growth is even more impressive, with exports to China showing a remarkable 25.09% increase compared to the previous year. In August 2022, exports stood at $159.021 million, while they rose to $198.932 million in August 2023. Pakistan’s exports to China also increased by 31.42% in August 2023 compared to July 2023 when they amounted to $151.365 million. Meanwhile, Pakistan’s overall exports to other countries experienced an 8.26% decline during the same period, decreasing from $4.951 billion to $4.541 billion.
Overall, Pakistan’s imports saw a decline of 26.01%.
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