ISLAMABAD: Pakistan’s exports to seven regional countries surged by 20% during the fiscal year 2023-24 compared to the previous year, according to the State Bank of Pakistan (SBP).
During 2023-24, Pakistan’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives totaled $4,334.467 million, constituting 13.94% of Pakistan’s overall exports amounting to $31,090.229 million.
China emerged as the top destination for Pakistani exports among these countries, surpassing Bangladesh and Afghanistan. Border trade with Sri Lanka, India, Nepal, and the Maldives was also conducted.
Specifically, exports to China rose by 33.64% to $2,707.225 million from $2,025.741 million the previous year, while exports to Afghanistan increased by 6.07% from $522.271 million to $554.008 million.
However, exports to Bangladesh declined by 13.27% to $666.516 million from $768.548 million, while exports to Sri Lanka saw a significant rise of 37.81% to $391.226 million from $283.882 million.
Exports to India increased notably from $0.329 million to $3.569 million. Exports to Nepal decreased by 4.67% to $2.711 million from $2.844 million, whereas exports to the Maldives increased by 7.86% to $9.212 million from $8.540 million.
In contrast, imports from these seven regional countries totaled $13,900.781 million during the period, up by 39.08% from $9,994.166 million in the previous year.
Imports from China were recorded at $13,566.437 million, marking a 40.39% increase from $9,662.911 million the previous fiscal year. Imports from India increased by 8.86% to $206.892 million from $190.040 million, while imports from Afghanistan decreased by 21.95% to $11.923 million from $15.277 million.
Imports from Sri Lanka rose to $58.302 million from $47.974 million, whereas imports from Bangladesh decreased to $56.555 million from $77.182 million. Imports from Nepal witnessed a significant decrease of 44.56% to $0.418 million from $0.754 million.
