By Zafar Hussain
BEIJING, August. 22 (Economic Net) – Pakistan’s export to China crossed $2.190 billion in the first seven months this year, up 11.14 percent year on year, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).
GhulamQadir, Commercial Counsellor at Pakistan Embassy in China, told China Economic Net that Pakistan’s exports to China increased even when trade decreased with other countries in the month of July showing the commitment of the government to enhance bilateral trade.
” It is very promising that Pakistan’s exports to China are growing. The Government of Pakistan is keen to harness the real potential of exports through value addition, digital marketing, export-oriented investments, and encouraging enterprises from both countries to make Pakistan an integral part of China’s supply chain”, Qadir added.
According to data from GACC, in the month of July Pakistan’s exports to China increased nearly 13 percent year-on-year, to $272.92 million whereas in the same month last year, it was $242.30 million.
Overall, from January-July 2022, China’s imports and exports from Pakistan counted $16.73billion up 13.51% year on year while in 2021 the same period it was $12.76 billion irrespective of monsoon, flood, and COVID-19 which impacted Pakistan’s exports to other countries in FY2022.
According to the Pakistan Bureau of Statistics, Pakistan’s total exports declined by $ 69 million nearly 36 percent in the month of July and the major reasons are monsoon & flood and COVID-19, added that the major decline noted in cotton Yarn -$28 million, copper -$27 million, Chromium -$3.2 million.
Pakistan Bureau of Statistics (PBS) further stated that Pakistan’s imports also declined by $525 million nearly 10 percent in the month of July. Major decline noted in machinery -$178 million, Fertilizers -$79 million, Iron & Steel -$77 million, electrical equipment -$76 million, SKD/CKD kits for cars -$75 million, Coal -$56.5 million, vessels -$39 million, rape seeds -$56 million, fruits and vegetables -28 million and COVID-19 Vaccines -$167 million.
The total volume of trade between China and Pakistan increased by nearly 8 percent in the month of July amounting to $2.35 billion as compared to 2021 in the same month which was $2.18 billion.
The exports of major products to China increased in rice, sesamum seeds, pine nuts, seafood, and other agricultural, which has promoted Pakistan’s economic recovery and increased its exports to China.
