Pakistan’s exports to China increased by 89.9% in March
ISLAMABAD, Apr. 13 (Gwadar Pro)– Pakistan’s exports to China in March 2023 increased by 89.8% to reach US$ 476 million compared to the corresponding month of the previous year, according to Trade Development Authority Pakistan (TDAP)’s latest monthly report. The volume of Pakistan’s exports to China in March 2022 was US$ 251 million.
As per the report, in March 2023, the volume of Pakistan’s exports to all destinations of the world was US$ 2,668 million which is 3.78% less than the corresponding month in the previous year when it was recorded at US$ 2,778 million. However, China is on top of the list of countries to which Pakistan’s exports have shown growth. Other countries with an increase include Spain (18.4%), Bangladesh (3.8%), KSA (34.5%), Kenya (16.3%), and Poland (20%).
For the second consecutive month, Pakistan’s exports to China have increased. In February 2023, Pakistan’s exports to China were recorded at US$ 365.5 million which was 28% higher than Pakistan’s exports of US$ 284.8 million in February 2022.
According to the TDAP’s report, from July to March 2023 (the first nine months of the ongoing fiscal year), Pakistan’s exports to all destinations of the world have been recorded at US$ 21,461 million which is 8.07% less than the total exports of US$ 23,346 million of the first nine months of the previous fiscal year.
According to the report, Pakistan’s import in March 2023 has been recorded at US$ 3,828 million which is 40.25% less than the corresponding month in the previous year when it was US$ 6,407 million. Pakistan’s imports from China in March 2023 has recorded at US$ 659.76 million which is 64% less than the imports of March 2022 when it was recorded at US$ 1831.70 million.