Exports of Goods to China Rise by 17.8%

Pakistan’s Exports of Goods to China Rise

 by 17.8% in Q1 FY2018-19

The country’s export of goods to China during the first quarter of the fiscal year 2018-19 increased by 17.75 percent to US$430.3 million against the export of goods worth $353.892 million in the same period of the preceding year.

The import of goods from China also witnessed an increase of 10.3 percent as it rose to $10.384 billion in the first quarter of the current fiscal year from $9.314 billion in July-September (2017-18), said latest data released by State Bank of Pakistan (SBP).

On a yearly basis, the export of goods to China increased to $139.7 million in September 2018, against the exports of $116.83 million in the same month of previous year, showing an increase of 16.37 percent.

The imports also witnessed an increase of 1.38 percent which rose to $1.01 billion in September 2018 against the imports worth of $996 million in the same month last year.

The export of services to China, during the period under review, decreased by 2.64 percent to $52.04 billion during July-September (2018-19) against an export of services worth $53.416 million during the same period of last year.

Total import of services from China during the corresponding year increased by 5.6 percent to $1.01 billion from $953 million during the same period of the preceding year.

On a yearly basis, the export of services declined from $22.8 million in September 2017 to $12.16 million in the same month of the current year, showing a decline of 10.64 percent.

Similarly, the import of services from China witnessed a decrease of 7.7 percent to $88.95 million in September 2018 from $95.8 million in the same month of the previous year