China, UAE, Singapore and USA emerge as Pakistan top sources of imports during 7MFY21

February 26, 2021 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during July-Jan FY21, followed by United Arab Emirates (UAE), Singapore, and the USA.

According to the latest figures released by the State Bank of Pakistan (SBP), the total imports from China during the period under review were increased by 17% YoY to $6.8 billion, as compared to $5.79 billion recorded in the corresponding period of last year.

This was followed by UAE, as Pakistan imported goods worth $3.75 billion from the Emirates as compared to the imports of $4.18 billion recorded during Jul-Jan FY20, depicting a decline of 10% YoY.

Singapore was the third in the list as Pakistan imported products worth $1.67 billion from the country. This figure was up by 30% from the imports of $1.28 billion in the same period last year.

USA was the fourth in line as imports came from the region during the aforementioned period was $1.23 billion, depicting a marginal increase from $1.22 billion in 7MFY20.

Among other countries, Pakistan’s imports from Saudi Arabia stood at $1.19 billion, marking a significant rise of 33% YoY, while imports from Japan were inched by 5% YoY to $706.25 million.

The imports from Kuwait and South Korea stood at $675.3 million and $674.38 million, up by 9% and 60% YoY respectively.

In the month of January’21 alone, the total imports from China jumped by 18% YoY and declined by 10% MoM to $1 billion. Whereas, imports from UAE dipped by 25% MoM and 14% YoY to $460.3 million.

Moreover, total imports from Singapore depicted a significant jump of 63% YoY and an increase of 16% MoM to $334 million.

Copyright Mettis Link News