M Arsalan Ali

The exports of various items from Pakistan to the member countries of the South Asian Association for Regional Cooperation (SAARC) witnessed an increase of 2% in the first six months of the ongoing fiscal, WealthPK reports.

According to the data released by the State Bank of Pakistan, the country exported goods worth $839.053 million to SAARC members during the first half of the current fiscal compared to $822.555 million during the corresponding period of the previous financial year, showing a 2% increase.

However, exports from Pakistan to Bangladesh, Afghanistan, Sri Lanka, Maldives, Nepal and India decreased by 20% year on year to $120.465 million in December 2022 compared to $152.023 million in the same month of the year 2021.

Imports from SAARC member countries to Pakistan stood at $177.676 million during the first six months of the ongoing financial year while the trade surplus with them was recorded at $661.377 million.

Pakistan had a trade surplus with Afghanistan, Bangladesh, Maldives, Bhutan, Nepal, and Sri Lanka during the first half of the current fiscal while a trade deficit was recorded with India. During the first six months of the current fiscal, Bangladesh remained the top recipient of Pakistani goods.

Exports from Pakistan to Bangladesh fell by 32% percent in December 2022 to $55.900 million compared to $82.746 million in the same month of the previous fiscal. Total exports from Pakistan to Bangladesh were recorded at $420.829 million during the first six months of the ongoing financial year, up from $399.426 million during the same period of the last fiscal year, representing an increase of 5%. A trade surplus of $377.106 million was recorded with Bangladesh.

Exports from Pakistan to Afghanistan stood at $38.297 million in December 2022, up from $33.097 million in the same month of the previous year, showing a 15% rise. Exports to Afghanistan increased by 4.6% in the first six months of the current fiscal and reached $251.580 million compared to $240.504 million in the same period of the previous financial year. The trade surplus with Afghanistan was recorded at $238.327 million.

Exports to Sri Lanka fell by 27% in December 2022 to $25.228 million from $34.992 million in December 2021. Total exports from Pakistan to Sri Lanka reached $160.871 million during the first half of the ongoing fiscal, showing a decrease of 8% compared to $174.885 million during the same period of the last financial year. The trade surplus with Sri Lanka was $132.146 million.

Exports to the Maldives surged by 52 percent to $0.723 million in December 2022 from $0.473 million in December 2021. Total exports to Maldives reached $4.051 million during the first half of the current fiscal, showing an increase of 28% compared to $3.167 million during the same period of the previous financial year.

The exports of goods from Pakistan to Nepal, Bhutan and India reached $1.548 million, $0.048 million, and $0.126 million, respectively, during the first six months of the current financial year compared to $4.038 million, $0.018 million, and 0.517 million during the same period of the previous fiscal, according to the data available with WeathPK.

Credit : Independent News Pakistan-WealthPk