Pakistan's Exports down by 54 percent amid Covid 19

Pakistan’s exports to 9 regional countries dropped by 28 percent

Engineering Post Report 

Pakistan’s exports to 9 regional countries had dipped substantially by 28.28 percent during the first three quarters of the current financial year, July 2022-March 2023, mainly due to the drop in the shipments to China.

According to the information available from the quarters concerned, the decline was not confined to exports   but imports as well especially from China   also registered a sharp decline during the outgoing financial year 2022-23. Some private sector sources attributed this to be due to the federal government’s austerity measures, the import containers were awaiting clearance for much more than usual period as well as the opening of the letters of credits (LCs)  for consumer goods to which the State Bank of Pakistan was reported to attaching  least priority.

The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives had dipped to $ 2.744 billion which was just 13.83 percent  of Pakistan’s total exports of $ 21.05 billion  in July-March FY23.

Further details pertaining to Pakistan’s exports and imports from the above mentioned nine regional countries were available but not being mentioned here for want of space, please.