According to the most recent statistics made available by the State Bank of Pakistan, Pakistan’s exports to nine regional nations had a pitiful rise of 0.72 percent in the first quarter (July to September) of 202223 compared to a year earlier.
The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan, and the Maldives constitute barely $953.113 million, or 13.27 percent of its $7.179 billion in total international exports for the months of July through September.
China comes in first on the list of regional exports from Pakistan, trailing only the more populous nations of Bangladesh and India. Only through water did Islamabad conduct business with its distant neighbours, including Nepal, Sri Lanka, Bhutan, Bangladesh, and the Maldives.
In the first quarter, Pakistan’s exports to China saw negative growth. China contributes for 52.56 percent of regional exports; the remaining eight nations make up the remaining percentage.
From $559.17 million in 3MFY22 to $501 million in July-September, Pakistan’s exports to China decreased by 10.4%. The post-Covid period saw the first indication of the decline in export earnings.
Exports from Pakistan to Afghanistan had a decline of 0.38 percent, from $127.647 million in July-September 2021 to $127.157 million in July-September 2018. Afghanistan used to be Pakistan’s second-largest export market behind the United States until a few years ago. The revenues that materialised in local currency were not included in the export calculations.
Additionally, the government has waived all duties and fees on imported tomatoes and onions. Due to the lack of supply locally, imports of these essentials have dramatically increased during the last few months.
From July through September of this year, the country’s exports to India climbed 1.98 percent to $0.101 million from $0.099 million in 3MFY22. The standing cotton and vegetable crops were utterly devastated during the monsoon rains. Vegetables and cotton importation at the Wagah border are both in high demand.
In FY22, there were no official exports from Pakistan to Iran. In Balochistan’s border regions, informal routes are used for the majority of commerce with Tehran.
From $175.388 million in JulySeptember 2021 to $234.504 million in JulySeptember 2022, exports to Bangladesh climbed by 33.7 percent. In a similar vein, exports to Sri Lanka climbed 8.31% to $87.755 million in July-September from $81.017 million in the corresponding months of previous year.
Pakistan’s exports to Nepal decreased by 31.98 percent, from $1.238 million in 3MFY22 to $0.842 million in July-September. Exports to the Maldives rose by 4.84 percent, from $1.669 million to $1.754 million. In the first three months of the current fiscal year, there was no export to Bhutan.