Pakistan’s exports to China increase by 1.80% during the first seven months of the current fiscal year

Based on the SBP figures, the trade of services and goods with China decreased by 3.38% during the first seven months of the current fiscal year.

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Pakistan’s exports of goods and services to China have increased by 1.80% during the first seven months of the on-going fiscal year as compared to the same period last year.

The State Bank of Pakistan (SBP) has reported that the overall exports to China were recorded to be at $1,056.773 million during July-January (2019-20). Last year, this figure stood at $1,038.023 million.

However, imports from China also decreased from $5,941.554 million to $5,794.114 million. A decrease of 2.48% was observed.

Based on the SBP figures, the trade of services and goods with China decreased by 3.38% during the first seven months of the current fiscal year.

The factors that contributed to this improvement in exports included fish frozen exports, that increased from $40.253 million to $73.947 million, showing an increase of 83.70%.

Exports of cane or beet sugar and sucrose increased by 4520.59%. Their value increased from $0.874 million to $40.384 million. Similarly, an increase in exports of copper alloys, cotton waste, apparel and accessories of leather also showed significant improvement.

On the other hand, commodities that contributed positively to growth in imports include rice, which grew from $5.006 million to $9.779 million. Imports of turmeric, thyme, saffron, ginger, bay leaves, curry, electric apparatus for line telephony and telephone sets also increased by large digits.

The imports of motor vehicles for the transport of goods increased by 31.07%. Imports of onions, shallots and leeks etc. also increased, going from $12.795 million to $37.139 million.

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