Pakistan’s Imports from China decrease 11.30% in 11 months

ISLAMABAD, Jul 13 (APP): Pakistan’s imports of goods and services from China witnessed a decrease of 11.30 percent during eleven months of fiscal year (2019-20) as compared to the corresponding period of last year, the State Bank of Pakistan reported.

The overall imports from China were recorded at US $8255.034 million during July-May (2019-20) against the imports of $9307.173 million during July-May (2018-19), showing a decline of 11.30 percent, SBP data revealed. The overall imports also decreased by 18.72 percent, from $47.831 billion to $38.877 billion, according to the data.

On the other hand, the exports to China during the period under review were recorded at $1535.454 million against exports of $1701.506 million during the same period of last year, showing a decline of 9.75 percent.

Overall Pakistan’s exports to other countries witnessed a decline of 6.77 percent in eleven months, from $22.457 billion to $20.936 billion, the SBP data revealed.

Based on the trade figures, the trade of goods and services with China witnessed a decrease of 11.65 percent in deficit during the first eleven months of the fiscal year as compared to the corresponding period of last year. The deficit during the period under review was recorded at $6719.580 million against $7605.667 million during same period of last year, showing negative growth of 11.65 percent, the data revealed.

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