Tuesday, October 8, 2024, 3:02 PM
BREAKING NEWS
**First fuel trucks enter war-torn Gaza: Rafah crossing official **Six trucks with fuel to power generators at two hospitals crossed from Egypt **Hezbollah war with Israel would be 'mistake of its life': Netanyahu **We will strike it with a force it cannot even imagine: Netanyahu **Force ‘not way’ to resolve Israeli-Palestinian conflict : China **Iran journalists who covered Amini death get jail sentences **Elaheh Mohammadi, Niloufar Hamedi were both found guilty of collaboration with US **Elaheh and Niloufar were arrested after reporting on the death last year of Mahsa Amini
Tuesday, October 8, 2024, 3:02 PM
Home Business Pakistan’s exports shows notable increase

Pakistan’s exports shows notable increase

Imports for China witnessed a decrease of 28.17 percent

by NWMNewsDesk
0 comment

Pakistan’s exports of products and services to China have shown a noteworthy growth of 5.16% in the first two months of the current fiscal year (2023–24), compared to the same period the previous year.

According to data from the State Bank of Pakistan (SBP), Pakistan’s overall exports to China reached US $350.297 million in July and August 2023, a considerable increase from the US $333.077 million reported during the same period in 2022–2023 and a growth rate of 5.16%.

Exports to China climbed by 25.09% on year-on-year, from $159.021 million in August 2022 to $198.932 million in August 2023.

Additionally, on a monthly basis, exports to China increased significantly, rising by 31.42% in August 2023 compared to the $151.365 million reported in July 2023, according SBP statistics.

banner

The data further stated that the total amount of exports from Pakistan to other nations fell from $4.951 billion to $4.541 billion during the first two months of the fiscal year, a decline of 8.26%.

China-related imports into Pakistan decreased during the same time period. China’s imports in July and August 2023 were worth US $1,861.702 million, down 21.68% from the US $2,377.070 million in the same months the year before.

Chinese imports fell 28.17% year over year in August 2023, falling from $1,251.219 million in August 2022 to $898.722 million in US dollars.

The figures show that on a monthly basis, imports from China decreased in August 2023 by 6.67% as compared to the US $962.980 million reported in July 2023.

The data shows that Pakistan’s imports decreased significantly overall from all sources, falling from US $11.474 billion to US $8.489 billion, a considerable decrease of 26.01%.

You may also like

In a recent breakthrough, researchers have found that the updated COVID-19 vaccine has demonstrated an impressive 95% efficacy rate against the emerging Delta variant, which has been causing widespread concern globally.

Blogs

Latest Articles

© 2023 News World Media. All Rights Reserved.