Arsalan Ali

The exports from Pakistan to South Asian Association for Regional Cooperation (SAARC) countries witnessed an increase of 13% in the first four months of the current financial year (FY23) and reached $586.172 million, up from $517.630 in the same period of the previous fiscal year, WealthPK reported.

The exports from Pakistan to Afghanistan, Bangladesh, India, Maldives, Nepal, and Sri Lanka surged by 2.6% and reached $134.071 million in October FY23 compared to $130.566 million in the corresponding month of the previous fiscal year, the State Bank of Pakistan data (SBP) data shows. The imports from SAARC countries were recorded at $122.054 million during the period under review with a trade surplus of $464.118 million.

In July-Oct FY23, Pakistan had a trade surplus with Afghanistan, Bangladesh, Maldives, Bhutan, Nepal, and Sri Lanka, while a trade deficit was recorded with India. Bangladesh ranked as the top recipient of goods from Pakistan in the first four months of FY23 followed by Afghanistan and Sri Lanka.

The exports to Bangladesh declined by 12% to $60.355 million in October 2022 as against $68.936 million in the same month of the previous fiscal. In July-October FY23, the total exports from Pakistan to Bangladesh were recorded at $294.859 million compared to $244.324 million in the corresponding period of the last fiscal year, with a trade surplus of $266.138 million.

The exports from Pakistan to Afghanistan were recorded at $48.862 million in October 2022 against $31.074 million in October 2021. In July-October FY23, the exports from Pakistan to Afghanistan grew by 11% to $176.019 million in the first four months of the current fiscal year from $158.721 million in the same period of the previous fiscal year. The trade surplus with Afghanistan stood at $165.868 million.

The exports to Sri Lanka in October 2022 stood at $23.747 million compared to $27.886 million in the same month of the previous year. In July-October FY23, the total exports from Pakistan to Sri Lanka reached $111.489 million compared to $108.903 million in the same period of the previous year. The trade surplus with Sri Lanka during that period stood at $91.141 million.

The exports to Maldives grew by 62% to $0.870 million in July-October FY23 from $0.536 million in the same period of the previous fiscal year. In July-October FY23, the exports to Maldives reached $2.624 million, up from $2.205 million in the corresponding period of FY22.

In October 2022, the exports to Nepal, Bhutan, and India were recorded at $0.183 million, $0.045 million, and $0.009 million, respectively. In July-October FY23, the exports from Pakistan to Nepal, Bhutan and India were $1.026 million, $0.045 million, and $0.110 million, respectively, compared to $3.346 million, $0.006 million, and $0.125 million, respectively, in the same period of the previous fiscal year.

Credit : Independent News Pakistan-WealthPk