In August 2023, Pakistan saw a significant increase in its exports to China, with a remarkable 81.6% rise compared to the same period the previous year. According to the Trade Development Authority of Pakistan (TDAP), exports to China reached $211 million in August 2023, compared to $116.2 million in August 2022.
The report also shows that in August 2023, Pakistan exported $190 million worth of goods to the United Kingdom, $130.7 million to the Netherlands, $76.4 million to Afghanistan, $51.8 million to Saudi Arabia, $38.7 million to Vietnam, $37.2 million to Poland, $32.5 million to Malaysia, and $30.1 million to Turkey.
This positive trend in exports to China has continued for the second consecutive month in the fiscal year 2023-24, following a 35.1% increase in July 2023 compared to the previous year.
However, it’s worth noting that in August 2023, Pakistan’s overall exports to various countries amounted to $2,363 million, which is 14.27% less than the exports in the same month the previous year. During the same period, Pakistan’s imports were recorded at $4,489 million, resulting in a trade deficit of -$2,126 million.
In August, Pakistan’s top export products included linen products worth $364.6 million, cotton yarn at $103.7 million, and copper products at $57.5 million.