ISLAMABAD: Pakistan’s exports to nine regional countries posted a growth of 25.53 per cent in the first eight months of the ongoing fiscal year (8MFY22) from a year ago, data released by the State Bank of Pakistan showed on Wednesday.
The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives account for a small amount of $2.930 billion — just 14.25pc of Pakistan’s total global exports of $20.56bn in 8MFY22.
China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving other populous countries India and Bangladesh behind.
Pakistan’s exports to China grew 58pc to $1.841bn in 8MFY22 from $1.165bn in 8MFY21. The increase in export proceeds was noted in the post-Covid period. However, it is not clear now whether the gain is one time or it is the outcome of the Ministry of Commerce’s claims to have brokered preferential market access for local products under the second phase of the free trade agreement with Beijing.
Exports to Afghanistan posted a negative growth of 53pc to $295.866m in 8MFY22 from $629.787m in the same period in FY21. Till a few years ago, Afghanistan was the second major export destination for Pakistan after the United States.
The country’s exports to India plunged 69.64pc to $0.633m this year from $2.085m in 8MFY21. Pakistan’s exports to Iran stood at $0.155m in 8MFY22 against no exports over the corresponding period of last year. Exports to Bangladesh increased 48.83pc to $559.118m in 8MFY22 from $375.669m.
Similarly, exports to Sri Lanka increased by 59.38pc to $249.079m in 8MFY22 from $156.272m in the previous year. Exports to Nepal increased by 58pc to $4.508m in 8MFY22 from $2.852m the previous year. Exports to the Maldives increased by 22.34pc to $4.287m from $3.504m.
Export proceeds to Bhutan jumped 72pc at $0.043m in 8MFY22 against $0.025m over the last year.
Published in Dawn, March 31st, 2022
