Pakistan’s regional exports decline by 5.7% during 9MFY21
Pakistan’s exports to its nine regional states fell over 5.7% in the nine months of the current fiscal year due to the impact of Covid-19.
This was revealed by the State Bank of Pakistan (SBP) on Monday.
The data disclosed that Pakistan’s exports to China bounced, posting a growth of 8.4% to $1.407 billion in 9MFY21 from $1.298 billion in 9MFY20.
Nevertheless, Pakistan’s exports to Afghanistan fell 5.57% to $746.328 million in 9MFY21 from $790.377 million in 9MFY20.
Similarly, the country’s exports to India fell 90.5% to $2.197 million this year from $23.167 million in 9MFY20.
Exports to India dived by a whopping 90.8% to $28.644 million in the whole FY20 from $311.958 million over FY19.
However, the exports to Iran surged 374% to $0.261 million in 9MFY21 from $0.055 million in 9MFY20.
The majority of of the trade with Tehran is carried out via informal channels in border areas of Balochistan.
On the other hand, exports to Bangladesh declined 13.56% to $438.418 million in 9MFY21 from $574.038 million.
Islamabad has reached out to Dhaka to revive talks to facilitate trade between the two nations.
The exports to Sri Lanka dipped by 24.2% to $185.883 million in 9MFY21from $245.131 million in the previous year.
Likewise, exports to Nepal fell by 82.6% to $3.502 million in 9MFY21 from $20.178 million the previous year.
Exports to the Maldives also dipped by 28.96% to $4.044 million from $5.693 million.
In the month of March, no export proceeds were sent to the Maldives.
Meanwhile, Pakistan’s export proceeds to Bhutan were recorded at $0.043 million in 9MFY21 against $0.094 million over the last year.
However, Pakistan’s trade deficit with the region narrowed slightly during the period under review as imports from these states also dipped.
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