Pakistan’s exports of goods and services to China experienced a notable 46 percent increase during the first seven months (July to January) of the current fiscal year (2023-24), reaching US $1.7214 billion compared to US $1.18 billion in the same period last year.
While imports from China to Pakistan during this period rose slightly from US $7.66 billion to US $7.71 billion, the significant boost in exports contributes to the strengthening economic ties between the two countries.
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Additionally, the State Bank of Pakistan reported a 39.44 percent increase in Pakistan’s exports to China during the first five months of the fiscal year. The overall exports to China reached US $1223.532 million from July to November (2023-24), compared to US $877.444 million in the corresponding period of the previous year.
This positive trend in exports aligns with China’s agreement to rollover a $2 billion debt to Pakistan, ensuring favorable conditions and less than 2 percent interest on the deposit.
