Pakistan's exports to Bangladesh have increased despite the decline in China-India

Pakistan is in a major economic crisis. In this situation, in the first six months of the financial year 2022-23 (July to December last year), exports to several countries including India, China, Nepal and Sri Lanka have decreased. However, exports to Bangladesh have increased in South Asia's nuclear-powered country.

In a report on Tuesday (January 31), Pakistani media The Dawn reported this information.

Pakistan

• According to the report, the State Bank of Pakistan released a statistic on Monday regarding Pakistan's export data. It said that despite the increase in exports to Bangladesh, in the first half of the fiscal year 2023, Pakistan's exports to 9 regional countries have materially contracted by 11.93 percent.
  The information published by the State Bank of Pakistan said that this situation was mainly caused by the decrease in shipments from Pakistan to China.

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According to The Dawn, Pakistan's total exports to Bangladesh, Afghanistan, China, Sri Lanka, India, Iran, Nepal, Bhutan and Maldives fell to USD 1.897 billion. Which is only 13.31 percent of Pakistan's total exports of US$ 14.25 billion during July-December 2023 fiscal year.

However, China is at the top of Pakistan's export list among regional countries, leaving behind other populous countries including India and Bangladesh. But still, Pakistan's exports to China declined in the first half of the current fiscal compared to other years.

Asia

• In the first half of the current financial year, the bulk of the South Asian country's regional exports went to China. The amount of which is 55.77 percent. And the remaining 44.23 percent has been exported to seven other countries including Bangladesh.
  Besides, vegetable and cotton crops in Pakistan have been extensively damaged due to monsoons and floods. And so the demand to allow import of cotton and vegetables from India through the Wagah border has intensified.

Nepal

• Meanwhile, Pakistan's exports to Nepal fell by 61.78 percent from USD 4.03 million to USD 1.54 million in the first six months of the current financial year 2022-23. However, exports to Maldives increased by 28.16 percent to $4.05 million from $3.16 million.

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On the other hand, Pakistan's exports to Bhutan have also increased. The country has recorded marginal exports worth US$ 48 thousand in the first six months of the current financial year. Which is 166 percent more than Pakistan's exports worth 18 thousand dollars to Bhutan last year.