Pakistan’s exports to China in June 2022 have increased by 8% to US$251.30 million as compared to the corresponding month of the previous year when it was recorded at US$232.74 million in June 2021, Gwadar Pro reported on Tuesday quoting Trade Development Authority Pakistan (TDAP). Also, as compared to May 2022, Pakistan’s exports to China have shown positive signs by gaining a value of US$22.38 million. In May, the total exports to China were recorded as US$228.92 million. Pakistan’s exports to UAE, Italy, Netherlands, UK, Spain, Bangladesh, Thailand, Canada, and France have also increased as compared to the corresponding month of June 2021.

Pakistan’s exports to all destinations of the world during June 2022 were recorded at US$2,887 million, which is 5.83% more than the corresponding month of June 2021 when the total figure was US$2,728 million. Regarding imports, China is one of the top partner countries which shows a decrease during June as compared to the corresponding month of the previous fiscal year. In June 2022, Pakistan’s imports from China decreased by 14% to US$1625.21 million compared to June 2021’s US$1894.16 million imports. This is a good sign for Pakistan to minimise its trade deficit.

Credit:
Independent News Pakistan-INP