Tuesday, January 31, 2023

Pakistan’s exports to China Increased 41% in Dec 2020

Islamabad: Pakistan exports to China reached up to $ 312.33 million in December 2020, according to the official figure from the “General Administration of Customs of the People’s Republic of China (GACC).

Pakistan’s Exports to China increased 41% annually in December compared to last year, according to GACC figures received by Pakistan.

Despite, the COVID-19 epidemic, mutual trade has increased significantly.

Pakistan’s exports were $ 312.33 million in December 2020, 41% more than $ 221 million in the same month last year, which has been increasing for the sixth consecutive month, said China Economic Net (CEN).

Last month, Prime Minister Adviser for Commerce and Investment Abdul Razak Daoud announced via Twitter that Pakistan’s exports to China increased 30% in November 2020.

Pakistan posted the highest profit in December 2020 when its exports reached $312.33 million compared to total exports to China.

Overall, Chinese imports from Pakistan totalled $ 2.12 billion from January to December 2020, even though COVID- 19 is affecting fiscal 2020.

This year, China’s export to Pakistan reduced 4.95 per cent amounting to $15.36 billion compared to the last year, $ 16.17 billion.

Total Trade Between Pakistan & China:

The total amount of trade between China and Pakistan was reduced by 2.69 % and in the amount $17.49 billion as compared to 2019 which was $17.97 billion due to COVID-19.

In the fourth quarter, China’s imports increased 44% from the last year to $695.63 million, while the overall trade in the previous quarter increased 4% amounting to $5.46 billion whereas in the last year it was $5.27 billion.

Among the growth of trade in significant products between Pakistan & China, textiles, seafood, and agricultural products have grown year on year.

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