Pakistan’s imports of products and services from China witnessed a decrease of 11.30 percent over the 11 months of the fiscal year 2019-20 compared to last year’s corresponding period, the State Bank of Pakistan (SBP) stated. Total imports from China were registered in July-May (2019-20) at US$ 8255.034 million compared to imports of US$ 9307.173 million in July-May (2018-19), showing a decline of 11.30 percent, SBP data showed.
Overall imports also fell by 18.72 percent, from $47.831 billion to $38.877 billion, according to the data. On the other hand, during the period under review, exports to China were reported at $1535.454 million against exports of $1701.506 million over the same period last year, showing a decline of 9.75 percent. Overall Pakistan’s exports to other countries witnessed a decline of 6.77 percent in 11 months, from $22.457 billion to $20.936 billion, SBP data showed.
Based on the trade estimates, trade in goods and services with China experienced a deficit decline of 11.65 percent in the first eleven months of the fiscal year compared to last year’s corresponding period. The deficit was estimated at $6719,580 million over the same period last year against $7605,667 million, showing negative growth of 11.65 percent, the data showed.
Extracted from City42 News