July-August 2022-23: Exports to China soar 5.16pc to $350.297m YoY: SBP

ISLAMABAD: Pakistan’s exports of goods and services to China witnessed an increase of 5.16 percent during the first two months of the current fiscal year 2023-24, as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) has reported.

The overall exports to China were recorded at $ 350.297 million during July-August 2023-24, against exports of $ 333.077 million during July-August 2022-23, showing growth of 5.16 percent, the SBP data reveals.

On year-on-year basis, the exports to China also surged by 25.09 percent from $ 159.021 million in August 2022, against the exports of $ 198.932 million in August 2023.

Meanwhile, on month-on-month basis, the exports to China rose by 31.42 percent during August 2023, as compared to the exports of $ 151.365 million in July 2023, the SBP data details.

Overall Pakistan’s exports to other countries witnessed a decrease of 8.26 percent in the first two months, from $ 4.951 billion to $ 4.541 billion, the SBP data discloses.