Pakistan’s exports to seven regional countries witnessed an increase of 3.78 percent in the first two months of the fiscal year 2022-23 compared to the corresponding period of the last year, reports WealthPK.

According to the State Bank of Pakistan, exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $617.702 million, which is 12.12 percent of overall exports of $5092.977 million during July-August (2022-23).

China tops the list of countries in terms of Pakistan’s exports to its neighbouring, leaving behind other countries such as Bangladesh and Afghanistan. Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.

Exports to China declined by 1.67 percent to $333.077 million in the two months of the current year from $338.737 million last year, while exports to Afghanistan also dipped by 14.50 percent to $81.795 million from $95.672 million.

Exports to Bangladesh however increased by 35.42 percent to $144.117 million this year from $106.415 million. Exports to Sri Lanka also increased by 8.10 percent to $57.047 million from $52.769, while exports to India rose by 61.40 percent to $0.092 million from $0.057 million in the previous year.

Exports to Nepal declined by 28.24 percent to $0.498 million from 0.694 million, while exports to Maldives increased by 28.09 percent to $1.076 million from 0.840 million, according to the SBP report.

On the other hand, imports from seven regional countries were recorded at $2,427.323 million during the period under review compared to $2,776.358 million last year, showing a decline of 12.57 percent.

Imports from China during July-August 2022-23 were recorded at $2,367.069 million against imports of $2704.442 million during July-August 2021-22, showing a decrease of 12.47 percent.

Imports from India were worth $28.349 million against imports of $28.867 million last year with a decrease of 1.79 percent, while imports from Afghanistan also decreased by 68.63 percent from $18.960 million to $5.947 million.

Meanwhile, imports from Sri Lanka declined by 22.60 percent from $14.092 million to $10.906 million, while imports from Bangladesh were recorded at $14.838 million from $9.727 million last year.

Imports from Nepal witnessed a decrease of 38.19 percent from $0.199 million to $0.123 million.

Credit: Independent News Pakistan-WealthPk