Pakistan’s exports to China crossed $2.57 billion during the first nine months of the present calendar year, rose 2% year-on-year, according to the data released by the General Administration of Customs of PeopleÂ’s Republic of China (GACC).
In this regard, talking to the media, Pakistan Embassy Commercial Counsellor Ghulam Qadir said that exports to China were growing every month on a year-on-year basis and the government was engaged to ramp up exports to increase bilateral trade and reduce the trade deficit.
“We are working with the Chinese partners to shift some of the strategic and priority sectors and manufacturing facilities to Pakistan. Our main target is to produce products and export around the world,” Qadir stated.
The GACC data further said that exports to China crossed $182.18 million in September while during the same month last year they stood at $257.47 million, which showed that floods severely hit PakistanÂ’s exports worldwide.
During the month, exports to China declined by 29% year-on-year because of heavy monsoon-induced floods and Covid-19, which caused damage to many sectors including agriculture, infrastructure, and industry.
Moreover, from January to September 2022, ChinaÂ’s overall imports and exports to and from Pakistan reached $20.19 billion, which increased 3% year-on-year, as in the same period of 2021 they were valued at $19.60 billion.
As per a Pakistani expert, the bilateral trade potential in all areas is always high and the business community can take benefit of it.
He highlighted that recent floods had badly shattered PakistanÂ’s economy as 33 million people had been affected and the agriculture sector had suffered massive losses.
Though, “there is still room for increasing trade because China is the second largest economy in the world and a major trading partner of Pakistan”.
The main products that were exported to China comprised rice, zinc ore and concentrate, sesame seeds, oilseeds, and oleaginous fruits, seafood, pine nuts, and other agricultural products.