Arsalan Ali

Pakistan exported goods worth $516.039 million to the member countries of the Association of South Asian Nations (ASEAN) during the first five months of the current fiscal, WealthPK report. According to the data of the State Bank of Pakistan, the export of different goods to ASEAN members from the country witnessed a growth of 3.56% during the first five months of the current financial year as compared to $498.270 million recorded in the corresponding period of the last fiscal.

Pakistan’s exports to ASEAN member countries including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam showed a growth of 12% on a year-over-year basis and reached $137.039 million in November 2022 as compared to $122.694 million during the same month of last fiscal. The import of various items from ASEAN countries stood at $3731.445 million during the first five months of the current fiscal. The trade deficit with ASEAN countries was recorded at $3215.406 million.

Pakistan had a trade surplus with the Philippines while the trade deficit was recorded with Brunei, Cambodia, Indonesia, Laos, Malaysia, Thailand, Myanmar, Vietnam and Singapore in the period under review. Malaysia remained the top destination for Pakistani goods during the first five months of the current fiscal.

On a year-on-year basis, export from Pakistan to Malaysia declined by 6% and dipped to $32.932 million in November 2022 as compared to $34.947 million in the same month of the previous year. Pakistan exported goods worth $124.550 million to Malaysia during the first five months of the current financial year as compared to $150.536 million during the same period of the last year, showing a decline of $25.986 million. A trade deficit of $371.064 million was recorded with Malaysia.

Exports to Singapore grew by 20% and reached $52.062 million in November 2022, up from $43.094 million in the same month of the previous year. During the first five months of the current fiscal, exports from Pakistan to Singapore showed a decline of 14% and reached $105.535 million against $122.347 million in the same period of the previous fiscal. The trade deficit with Singapore was recorded at $1283.681 million.

In November 2022, exports from Pakistan to Vietnam stood at $16.493 million against $12.611 million in the same month of last year, showing a growth of 30%. Exports to Vietnam during the first five months of the current fiscal stood at $117.781 million, up from $95.997 million in the same period of the previous financial year, recording a growth of 23%. A trade deficit of $4.363 million was recorded with Vietnam.

Export to Thailand was recorded at $11.083 million in November 2022 as compared to $9.825 million in the same month of the previous year, showing a growth of 13%. Export from Pakistan to Thailand reached $58.904 million in the first five months of the current fiscal, up from $40.149 million in the same period of the previous financial year, witnessing a growth of 47%. The trade deficit with Thailand was recorded at $311.955 million.

The value of the export from Pakistan to the Philippines in November 2022 was $13.756 million as compared to $9.740 million in the same month of last year, showing a rise of $4.016 million. Export to the Philippines grew by 35% and reached $53.689 million in the first five months of the current fiscal as compared to $39.630 million in the same period of the previous financial year. A trade surplus of $46.215 million was recorded with the Philippines.

 Credit : Independent News Pakistan-WealthPk