Pakistan’s exports to China exceeded $1.918 billion

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ISLAMABAD: (JTN) Pakistan’s exports to China exceeded

Pakistan’s exports to China in the first half of this year (H1) exceeded

$1.918 billion, which is 10.97% higher than $1.728 billion in the

same period of the previous year, which is consistent on annual

basis. are growing According to China Economic Net, the official

data of China’s General Administration of Customs (GACC) has

revealed that despite the Covid-19 epidemic, there has been a

significant increase in bilateral trade between China and Pakistan in

the first half of this year.

=Trade between the two countries increased 15 percent

The total volume of trade between the two countries increased by

about 15 percent to $14.39 billion in the same period in 2021 from

$12.55 billion due to Covid-19. According to China Economic Net,

compared to the data of the first half of 2021, Pakistan’s exports to

China increased by 17.80 percent in January this year, which reached

382.22 million dollars. It crossed $287.65 million in February, an

increase of nearly 30 percent. It increased by 7.23% to $367.71

million in March. Covid-19 affected Pakistan’s exports in April, which

saw a decline of 21.15% to $283.53 million. In May, it rose nearly 3

percent to $280.97 million, while in June it rose nearly 54 percent to

$316.36 million.

=Pakistan’s geography is very friendly to China

GeoYIQI Chief Economist Shaun Saeed told China EconomicNet that

increasing exports from Pakistan to China is a good sign for both

countries. This clearly indicates that trade momentum has been

boosted through the China Pakistan Economic Corridor (CPEC). Shan

added that China has really opened up the market for Pakistani

goods. Both countries can benefit from a long-term relationship.

Pakistan can export more because China is the second largest

economy in the world. Pakistan’s geography is very friendly to China

and the global macroeconomic landscape. According to China

Economic Net, he added that Pakistan can become a food basket for

China because China’s market is huge and it has good purchasing

power, so Pakistan should take advantage of its good relations and

China should take advantage of its good relations.

=Increased encourage Pakistan’s economic recovery

Transferring industries and technologies to Pakistan can help

increase Pakistan’s exports to China and around the world. It should

be noted that Pakistan expects bilateral trade to reach $32 billion in

the next two to three years and is likely to reach $50 billion before

2030. In the first six months of this year, trade between the two

countries in rice, cotton yarn, refined copper products, sesame

seeds, pine nuts, textiles, seafood and other agricultural products

has increased year-on-year, and this has encouraged Pakistan’s

economic recovery and increased its exports to China.

Read More:—> JTN News about Economy & Trade

Pakistan’s exports to China exceeded , Pakistan’s exports to China exceeded

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