Pakistan’s exports to seven regional countries witnessed an increase of 0.72 percent in the first quarter of the Fiscal Year 2022-23 compared to the corresponding period of the Fiscal Year 2021-2022, reports WealthPK.

According to the State Bank of Pakistan, exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives were US$953.113 million, accounting for 12.55 percent of overall exports of US$7594.042 million during July-September (2022-23).

China topped the list of countries in terms of Pakistan’s exports. Exports to China witnessed a decline of 10.40 percent to US$501.000 million in the three months of the current year from US$559.179 million last year, while exports to Afghanistan also dipped to US$127.157 million from US$127.647 million. Exports to Bangladesh increased by 33.70 percent to US$234.504 million this year from US$ 175.3885 million, whereas exports to Sri Lanka also increased by 8.31 percent to US$ 87.755 million from US$ 81.017.

Exports to India also increased to US$0.101 million from US$0.099 million in the previous year. Exports to Nepal declined by 31.98 percent to US$0.842 million from US$1.238 million while exports to Maldives increased by 5.09 percent to US$1.754 million from US$1.669 million, it added.

On the other hand, imports from seven regional countries were recorded at US$3318.240 million during the period under review compared to US$4,130.770 million last year, showing a decline of 19.67 percent. Imports from China during July-September 2022-23 were recorded at US$3228.167 million against US$4013.874 million during July-September 2021-22, showing a decrease of 19.57 percent.

Among other countries, imports from India were recorded at US$46.487 million against imports of US$42.502 million with a decrease of 9.37 percent, while imports from Afghanistan also decreased by 75.70 percent from US$33.589 million to US$8.160 million. Meanwhile, imports from Sri Lanka witnessed a decline of 29.72 percent from US$22.010 million to US$15.467 million, whereas imports from Bangladesh were recorded at US$19.822 million from US$17.446 million. Imports from Nepal witnessed a decrease of 88.74 percent from US$0.217 million to US$ 0.137 million, it added.

Credit: Independent News Pakistan-WealthPk