Arsalan Ali

Pakistan exported goods worth $1.170 billion to Central Asia Regional Economic Cooperation (CAREC) countries during the first five months (July-Nov) of the current fiscal year (2022-23) compared to $1.301 billion during the same period of last year, showing a decline of 10%, WealthPK reported.

Exports from Pakistan to Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan were recorded at $251.040 million in November 2022 compared to $325.280 million during the same month of the previous fiscal year, showing a decline of 22%, data available from the State Bank of Pakistan (SBP) shows.

Imports from CAREC countries stood at $5.071 billion during the first five months of FY23, and the trade deficit was recorded at $3.9 billion. Pakistan had a trade surplus with Afghanistan, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, and Uzbekistan, while a trade deficit was recorded with China, Tajikistan, and Turkmenistan. During July-November, China was the top export destination of Pakistani goods among CAREC member countries, followed by Afghanistan, Uzbekistan, and Kazakhstan.

Exports from Pakistan to China declined by 21% to $199.058 million in November 2022 compared to $252.808 million during the same month of the previous fiscal year. During July-November FY23, Pakistan exported $877.444 million worth of products to China, a decline of 13% from $1.016 billion during the same period of the previous year. A trade deficit of $4.163 billion was recorded with China during July-November FY23.

Exports from Pakistan to Afghanistan declined by 23% and stayed at $37.263 million in November 2022 compared to $48.686 million in November 2021. During the first five months of the current fiscal year, exports to Afghanistan surged by 2% and reached $213.282 million against $207.407 million during the same period of the previous fiscal year.

In November 2022, exports from Pakistan to Uzbekistan grew by 62% and reached $6.905 million compared to $4.258 million in November 2021. Exports to Uzbekistan during the first five months of the current fiscal year showed increase of 108% and reached $35.184 million compared to $16.869 million during the same period of the last fiscal year.

Exports to Kazakhstan declined by 67% and stayed at $5.770 million in November 2022 compared to $17.716 million in November 2021. During July-November FY23, total exports from Pakistan to Kazakhstan reached $34.895 million, a decline from $52.668 million during the corresponding period of FY22.

In November 2022, exports to Azerbaijan were recorded at $0.678 million compared to $0.513 million in November 2021. During July-November FY23, exports to Azerbaijan grew by 45% and reached $3.822 million compared to $2.637 million during the same period last year.

Exports to Georgia in November 2022 were recorded at $0.625 million against $0.737 million in November 2021, showing a decline of 15%. During July-November FY23, total exports from Pakistan to Georgia were recorded at $2.087 million, showing a decline of 25% from $2.809 million during the same period in FY22.

Exports from Pakistan to Tajikistan increased by 22% and reached $0.414 million in November 2022 compared to $0.339 million in the same month of 2021. During July-Nov FY23, exports from Pakistan to Tajikistan were recorded at $1.926 million compared to $0.941 million during the same period of the previous fiscal year, showing a rise of 104%.

During July-November FY23, exports to Kyrgyzstan, Mongolia and Turkmenistan were recorded at $1.644 million, $0.230 million, and $0.145 million, respectively, compared to $0.827 million, $0.293 million, and $0.572 million, respectively, during the corresponding period of last fiscal year.

Credit : Independent News Pakistan-WealthPk