Pakistan sees nearly 23% rise in export to China in first two months of 2022
BEIJING, April. 7 (China Economic Net) - Pakistan's export to China crossed $ 67.072 million in the first two months of 2022, which recorded a nearly 23% increase y-o-y, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).
Despite the COVID-19 pandemic, bilateral trade has increased significantly. Pakistan's exports stood at $67 million in the first two months of 2022, up 22.77 percent from $54 million in the same period of the previous year.
Last month Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood announced via Twitter that China is opening the Khunjrab Border which would help further increase Pakistan's export to China.
"We are pleased to share that China is opening the Khunjrab Border on 1 April 2022. It will not only help in the utilization of the second phase of Pakistan-China FTA but also support local commerce on both sides of the border especially the fruit and vegetable exporters from northern Pakistan. I urge the exporters to take advantage of this opportunity and increase their exports to China”, said Abdul Razak via Twitter.
According to GACC, overall, from January to February 2022, China's imports and exports from Pakistan counted $4.365 billion irrespective of COVID-19 which impacted FY2022 as well.
In the first two months of this year, China's export to Pakistan also increased by 15.32 percent amounting to $3.69 billion as compared to the previous year which was $ 3.20 billion.
Among the growth of trade in major products between the two countries, textiles, seafood, and agricultural products have increased year on year, which has promoted Pakistan's economic recovery and increased its exports to China, especially cotton yarn, rice, sesamum seeds, pine nuts that got a boom in the Chinese market.