Arsalan Ali

Exports from Pakistan to the member counties of the South Asian Association for Regional Cooperation (SAARC) surged by 7% during the first five months of the current fiscal, WealthPK reports. The data of the State Bank of Pakistan shows that Pakistan exported goods worth $718.950 million during the first five months of the current fiscal to SAARC countries as compared to $670.533 million during the same period of the last financial year.

However, on a year-on-year basis, exports from Pakistan to Afghanistan, Bangladesh, India, Maldives, Nepal, and Sri Lanka declined by 13% to $132.778 million in November 2022 as compared to $152.902 million in the same month of the previous year. On the other hand, imports from SAARC members stood at $149.940 million and the trade surplus with these countries was recorded at $569.010 million during the period under review.

Pakistan had a trade surplus with Afghanistan, Bangladesh, Maldives, Bhutan, Nepal and Sri Lank while a trade deficit was recorded with India. Moreover, Bangladesh remained the top recipient of goods from Pakistan in the first five months of the current fiscal year.

However, exports from Pakistan to Bangladesh declined by 2.6% in November 2022 to $70.431 million against $72.356 million during the same month of the previous fiscal. Exports from Pakistan to Bangladesh during the first five months of the current fiscal were recorded at $365.290 million as compared to $316.680 million during the corresponding period of the previous financial year, showing an increase of 15%. A trade surplus of $329.668 million was recorded with Bangladesh.

Exports from Pakistan to Afghanistan stood at $37.263 million in November 2022 as compared to $48.686 million in the same month of last year, registering a decline of 23%. During the first five months of the current fiscal, exports from Pakistan to Afghanistan grew by 3% to $213.282 million, up from $207.407 million during the same period of the previous financial year. The trade surplus with Afghanistan stood at $201.759 million.

Exports to Sri Lanka declined by 22% and reached $24.154 million in November 2022 as compared to $30.990 million in the same month of the previous year. During the first five months of the current fiscal, total exports from Pakistan to Sri Lanka reached $135.643 million as compared to $139.893 million in the same period of the previous financial year, witnessing a decline of 3%. The trade surplus with Sri Lanka stood at $110.911 million.

Pakistan’s exports to Maldives grew by 44% on a year-on-year basis and reached $0.705 million in November 2022 as compared to $0.489 million in the same month of last year. Exports to Maldives reached $3.329 million in the first five months of the current financial year, up from $2.694 million during the same period of last year, showing a growth of 23%.

In November 2022, exports to Nepal, Bhutan, and India were recorded at $0.220 million, $0.003 million and $0.002 million, respectively. During the first five months of the current fiscal, exports from Pakistan to Nepal, Bhutan and India reached $1.246 million, $0.048 million, and $0.112 million, respectively, as compared to $3.701 million, $0.018 million, and $0.140 million during the corresponding period of the previous financial year, according to the data available with WealthPK.

Credit : Independent News Pakistan-WealthPk