The data of State Bank of Pakistan showed that during the first nine months of the previous fiscal year, the exports to regional countries went down by 19.68 percent.
Pakistans exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and Maldives decreased to $3.353 billion. The exports to these countries cover only 13.21 percent of total countrys whole exports, the financial value of which comes to $25.38 billion during the period from July to May in 2023.
Pakistan has been successful in making China the biggest importer of Pakistani products but during the period under consideration, the countrys exports to China too have shown the negative trend as compared to the exports during these months in the financial year 2021-22.
During the first nine months of outgoing fiscal year, Pakistans exports to China stood at $1.891 billion, showing the reduction by 25.66 percent as compared to the countrys exports to this neighboring county, the financial value of which was $2.544 billion.
The imports from China year-on-year basis too came down by 42.44 percent to $9.03 billion during the first nine months of outgoing financial year.
Countrys exports to Afghanistan also decreased by 3.28 percent to $478.34 million during the period, under consideration as compared to $494 million during these months in the previous financial year.
Meanwhile, Pakistans exports to Iran through legal ways were worth $0.028 million during the first nine months of the last fiscal year as compared to no exports during these months in the fiscal year 2021-22.
Exports to India came down by 78.9 percent during the period under consideration in the last financial year.
Countrys exports to Bangladesh came down by 9.51 percent, the exports to Nepal decreased by 48.9 percent and the exports to Nepal squeezed by 23.3 percent during the first nine months of the fiscal year 2022-23.