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Thursday, June 13, 2024

In August, Pakistan’s exports to China increased by 81.6%.

Pakistan’s exports to China increased significantly in August 2023, by an astounding 81.6% over the same month the previous year. Exports to China reached around 62,456 million PKR in August 2023, up from approximately 34,379 million PKR in August 2022, according to the Trade Development Authority of Pakistan (TDAP).

The report also reveals that in August 2023, Pakistan exported goods to the UK worth roughly 56,240 million Pakistani rupees (PKR), the Netherlands worth roughly 38,692 million PKR, Afghanistan worth roughly 22,658 million PKR, Saudi Arabia worth roughly 15,363 million PKR, Vietnam worth roughly 11,465 million PKR, Poland worth roughly 11,016 million PKR, Malaysia worth roughly 9,612 million PKR, and Turkey worth roughly 8,918 million PKR.

After a 35.1% gain in July 2023 over the prior year, this favorable trend in exports to China has persisted for the second consecutive month in the fiscal year 2023–24.

It is important to note that Pakistan’s total exports to other nations in August 2023 was over 700,048 million PKR, which is roughly 14.27% fewer than exports in the same month the previous year. Pakistan’s imports were estimated to be worth about 1,331,464 million PKR at that time, resulting in a trade deficit of about -635,496 million PKR.

In August, Pakistan’s top export products included linen products valued at approximately 108,038 million PKR, cotton yarn at approximately 30,727 million PKR, and copper products at approximately 17,020 million PKR.

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