INP-WealthPk
Pakistan’s exports to China showing positive trend in 2021
January 04, 2022
ISLAMABAD, Jan 4 (INP): In the outgoing year 2021, Pakistan’s exports to China showed a positive trend, as with each passing month, the former country’s exports to the latter was increased significantly.
As per Gwadar Pro's report, the value of Pakistan’s exports to China in July-November 2021 grew by 62.4% compared to the value of exports in July-November 2020.
According to figures derived from the monthly trade reports of PTDA, the value of Pakistan’s exports to China during July-November 2021 remained US$ 1288.68 million (US$ 1.29 billion) compared with US$ 793.46 million (US$0.79346 billion) during the same period in 2020.
In the current fiscal year July through November, Pakistan’s exports to China was increased month over month. In July 2021, Pakistan’s exports to China was US$ 194.86m, in August US$ 197.27m, in September US$ 261.86m, in October US$ 281.30m while November the exports value was US$ 353.39m.
According to Abdul Razak Dawood, Advisor to PM on Commerce and Investment, During the first half of the current FY (Jul-Dec 2021), exports increased by 25% to US$ 15.125 billion as compared to US$ 12.110 billion during Jul-Dec 2020.
Pakistan’s exports to China in different goods and products have been increasing year by year. For example, China Pakistan agriculture tree has grown from US$ 490m in 2011 to US$ 830m in 2019.
During the corona pandemic in 2020, bilateral agriculture trade volume remained at a high level with an amount of US$ 717m. “From January to September 2021, China Pakistan Agriculture trade achieved a record of US$ 860m of which export from Pakistan to China was US$ 630m.
It will increase year on year,” Ambassador Nong Rong had stated on the occasion of signing the Protocol of Inspection and Quarantine Requirements for the Export of Onion from Pakistan to China in November last year.
According to the Ambassador, rice export from Pakistan to China is worth US$ 290m while mangoes export has been increased from Pakistan to China ten times more than the previous year.
The exports have been promoted and encouraged by the second phase of China Pakistan FTA protocol.
INP/Javed
