Pakistan’s exports surge by 20% in FY 2023-24

Pakistan’s exports to seven regional countries increased by 20% during FY 2023-24 compared to the previous year.

According to the State Bank of Pakistan (SBP), these exports amounted to $4,334.467 million, making up 13.94% of Pakistan’s total exports of $31,090.229 million for the fiscal year.

Moreover, China was the top importer, with Pakistan’s exports to the country rising by 33.64% to $2,707.225 million. Exports to Afghanistan also increased by 6.07% to $554.008 million.

Conversely, exports to Bangladesh fell by 13.27% to $666.516 million, while exports to Sri Lanka surged by 37.81% to $391.226 million.

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In addition, exports to India increased to $3.569 million from $0.329 million, and exports to Nepal decreased by 4.67% to $2.711 million. Exports to the Maldives increased by 7.86% to $9.212 million.

Furthermore, imports from these seven countries rose by 39.08% to $13,900.781 million. Imports from China alone increased by 40.39% to $13,566.437 million.

Imports from India rose by 8.86% to $206.892 million, while imports from Afghanistan decreased by 21.95% to $11.923 million. Imports from Sri Lanka increased to $58.302 million, and imports from Bangladesh decreased to $56.555 million. Imports from Nepal decreased by 44.56% to $0.418 million.