Imports from China increased to $10.3 billion in 10MFY2021

May 28, 2021

376

Data released by State Bank of Pakistan suggest, China remained the main source of imports for Pakistan iten months period of fiscal year 2021, followed by the United Arab Emirates (UAE), Singapore, the United States and Saudi Arabia.

According to the latest figures released by the State Bank of Pakistan (SBP), total imports from China rose 35% year-on-year to $ 10.3 billion year-on-year, compared to $ 7.64 billion in the same period last year. .

The United Arab Emirates followed where Pakistan imported goods from the Emirates to the tune of $ 5.6 billion, a slight decrease from the $ 5.66 billion in imports recorded in the July-April 2020.

Singapore is third on the list as Pakistan imported $ 2.49 billion worth of goods from the country. That figure climbed 62% from $ 1.187 billion in the same period last year.

Next line is the United States and Saudi Arabia, as imports from the regions are $ 1.99 billion and $ 1.92 billion, respectively. Imports from the USA rose 6% year-on-year, while imports from Saudi Arabia at 10MFY21 rose significantly by 62% year-on-year.

Among other countries, Pakistan’s imports from Japan reached $ 1.25 billion, marking an annual increase of 36%, while imports from Kuwait rose 18% to $ 1.07 billion.

Imports from South Korea and Qatar totaled $ 1.06 billion and $ 1.03 billion in 10 months of 2021 fiscal year. Compared to the same period last year, Pakistan’s import payments to South Korea increased by 70% annually, while payments to Qatar decreased by 28% annually.

In the month of April-2021 alone, total imports from China jumped 84% annually and 2% monthly to $ 1.24 billion. Similarly, imports from the United Arab Emirates rose 61% annually and 1% monthly to $ 634 million.

In addition, total imports from Saudi Arabia showed a substantial increase of 285% year-on-year and 54% month-on-month to USD 322.9 million in the month of April.