Pakistan’s exports to regional countries rise by more than 6% in 11MFY21

Paki­stan’s exports to nine regional countries witnessed a growth of 6.23% in the first 11 months of the recently concluded FY21.

This was revealed by the SBP (State Bank of Pakistan) on Saturday.

China

Pakistan’s exports to China registered an increase of 19.28% to $1.831 billion in 11MFY21 from $1.535 billion in 11MFY20.

The rise in export proceeds was observed in the post-Covid period.

Nevertheless, imports from China surged 38.75% to $11.454 billion in 11MFY21 against $8.255 billion in 11MFY20.

Afghanistan

Pakistan’s exports to Afghanistan witnessed an increase of 8.29% to $895.380 million in 11MFY21 from $826.802 million in 11MFY20.

India

Pakistan’s exports to India fell by a whopping 90% to $2.283 million 11MFY21 from $25.009 million in 11MFY20.

Likewise, the imports from India plunged 52.99% to $168.730 million in 11MFY21 against $358.936 million in 11MFY20.

It is pertinent to note that Islamabad has halted trade relations with New Delhi. Only pharmaceutical products from the neighboring South Asian country are allowed to be imported.

Iran

Pakistan’s exports to Iran soared by a whopping 74.5% to $0.261 million in 11MFY21 from $0.055 million in 11MFY20.

The majority of the trade with Tehran is carried out via informal channels in frontier areas of Balochistan.

Meanwhile, no documented imports were made from Iran in 11MFY21.

Bangladesh

Pakistan’s exports to Bangladesh declined 12.9% to $551.552 million in 11MFY21 from $633.787 million.

On the other hand, imports from Bangladesh witnessed a surge of 67.27% to $73.052 million in 11MFY21 against $43.673 million in 11MFY20.

Sri Lanka

Pakistan’s exports to Sri Lanka dropped by 12.92% to $237.618 million in 11MFY21 from $272.884 million in 11MFY20.

During FY21, Islamabad had signed the first-ever FTA with Colombo. Nevertheless, trade between the two states remains greatly behind its actual potential.

Nepal

Pakistan’s exports to Nepal shrank to $4.274 million in 11MFY21 from $20.844 million in 11MFY20.

Maldives

Pakistan’s exports to the Maldives fell to $5.564 million in 11MFY21 from $6.744 million in 11MFY20.

Bhutan

Pakistan’s exports to Bhutan slightly rose to $0.155 million in 11MFY21 against $0.094 million in 11MFY20.

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