Raza Khan

Pakistan’s exports to African countries were recorded at $891.41 million during the first eight months (July-February) of the current fiscal year (2022-23), according to the Ministry of Commerce. Exports to African countries marginally increased by 0.45% during July-February FY23 compared to the corresponding period of FY22 when exports remained at $887.32 million.

The export value to these countries didn’t change much during the period under review despite a decline of 9.21% in the country’s overall exports. According to Pakistan Bureau of Statistics (PBS), the country’s total exports were recorded at $18.678 billion during July-February FY23 compared to $20.573 billion during the corresponding period of FY22.

Kenya remained Pakistan’s largest export destination in the African continent during July-February FY23 with export volume of $153 million, registering 33.68% growth against the same months of FY22 when export volume was recorded at $114.45 million.Exports to South Africa were recorded at $138.14 million during the period under review compared to $130.74 million during the corresponding period of last fiscal year, with an increase of 5.66%.

Despite a decline of 5.52% in exports, Egypt remained the third largest market for Pakistan in Africa during the period under review. Pakistan’s exports to Egypt were recorded at $74.23 million during July-February FY23 against $87.87 million during the corresponding period of last fiscal year.

Exports to Tanzania grew by 58.32% during the period under review to $63.6 million from $40.17 million during the corresponding period of last fiscal year. In February 2023, Pakistan’s exports to African countries were recorded at $92.83 million compared to $131.32 million during the corresponding month of 2022, with a decline of 29%.

According to the PBS, the country’s total exports were recorded at $2.191 billion during February 2023 against $2.834 billion during the corresponding month of 2022, with a decline of 22.69%. According to the Ministry of Commerce, Pakistan’s top export destinations in Africa include Kenya, South Africa, Madagascar, Tanzania, Egypt and Nigeria.

It is also indicated that Pakistan’s exports to most of its top export destinations in the African continent are increasing over time, which shows that Africa’s top economies are becoming attractive for Pakistani exports. Pakistan’s top exports to African countries include cereals, cotton, wadding, made-up textile, sugar, confectionery, man-made staple, salt, sulphur, beverages, spirits and vinegar, pharmaceutical products, optical photographic, plastic paper and paperboard, machinery, miscellaneous chemicals and toys.

Pakistan imports tea, coffee, crude oil, iron, steel, inorganic chemicals, cotton and textile products from the African region. Kenya is the largest source of tea import for Pakistan in terms of quantity as well as value. According to the United Nations COMTRADE database on international trade, Pakistan imported tea worth over $480 million from Kenya in 2021.

According to a study of Trade Development Authority of Pakistan (TDAP), Africa is rich in natural and mineral resources and is called the world's storehouse of strategic raw materials. The volume of trade between Pakistan and African countries can be improved through improved information sharing, mutual understandings, business interactions, connectivity and people-to-people contacts.

Credit : Independent News Pakistan-WealthPk