Pakistan’s exports to seven regional countries saw a 20% increase during the fiscal year 2023-24 compared to the same period last year.
According to the State Bank of Pakistan (SBP), exports to regional countries, including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives, totaled $4,334.467 million, which constitutes 13.94% of Pakistan’s overall exports of $31,090.229 million for the fiscal year 2023-24.
China led the list of export destinations among neighboring countries, followed by Bangladesh and Afghanistan. Pakistan also conducted trade with Sri Lanka, India, Nepal, and the Maldives.
Exports to China increased by 33.64% to $2,707.225 million from $2,025.741 million last year. Exports to Afghanistan rose by 6.07% to $554.008 million from $522.271 million.
However, exports to Bangladesh fell by 13.27% to $666.516 million from $768.548 million. Exports to Sri Lanka increased significantly by 37.81% to $391.226 million from $283.882 million.
Exports to India saw a notable rise to $3.569 million from $0.329 million the previous year. Exports to Nepal decreased by 4.67% to $2.711 million from $2.844 million, while exports to the Maldives increased by 7.86% to $9.212 million from $8.540 million.
On the import side, Pakistan’s imports from these seven regional countries increased by 39.08% to $13,900.781 million from $9,994.166 million last year.
Imports from China were recorded at $13,566.437 million, a 40.39% increase from $9,662.911 million the previous 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, and imports from Bangladesh were $56.555 million, down from $77.182 million. Imports from Nepal decreased by 44.56% to $0.418 million from $0.754 million.
