Pakistan’s exports to China up by 40% in 6 months

Pakistan’s export of goods and services to China exhibited remarkable growth, registering a substantial increase of 40.01% during the first six months of the current fiscal year (2023-24) compared to the corresponding period of the previous year, according to the State Bank of Pakistan (SBP).

Key Points:

1. Six-Month Performance: The overall exports to China for the period of July-December (2023-24) stood at US $1481.499 million. In contrast, the exports during the same period of the preceding year (2022-23) were recorded at US $1058.088 million, reflecting a notable increase of 40.01%.
2. Year-to-Year Surge: Examining the data on a year-to-year basis, exports to China experienced a significant surge of 42.80%. In December 2022, exports amounted to $180.643 million, whereas, in December 2023, they reached $257.966 million.

This positive trend in export growth indicates strengthening economic ties between Pakistan and China. The substantial increase in exports is a testament to the resilience and potential for expansion in bilateral trade, contributing to the economic prosperity of both nations.