Pakistan’s exports to the region fall by 24pc
Statesman Report
KARACHI: The global economic slowdown lead by the coronavirus pandemic took a toll on Pakistan’s exports in the region, as the country’s exports to the region declined by 24 percent during the first quarter of this fiscal year.
As per data released by the State Bank of Pakistan (SBP), exports to other countries in the region, including China and Afghanistan, were only stood at USD 719.1 million, witnessing a decline of USD 231.9 million in the same period last year.
According to data Exports to Afghanistan, China, Bangladesh, Sri Lanka, Iran, Nepal, Bhutan, and the Maldives stood at USD 719.1 million, according to SBP data as compared to exports in the first quarter of last fiscal year, which were recorded at USD951 million.
Exports to China fell by about 25 percent, Bangladesh by 29.5 percent, Sri Lanka by 30 percent, Nepal by 78 percent, the Maldives by 24 percent, whereas, no exports were made to Iran and Bhutan.
However, the country's trade deficit with the regional countries declined during the period, as imports from those countries also declined.