China remains Pakistan’s top source of imports in October: SBP

November 21, 2022 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during July-Oct FY23, followed by United Arab Emirates (UAE), Qatar, and Kuwait.

According to the latest figures released by the State Bank of Pakistan (SBP), the total imports from China during the period under review decreased by 35.04% YoY to $906 million, as compared to $1.39 billion recorded in the corresponding period of the last year.

This was followed by UAE, as Pakistan imported goods worth $2.51bn from the Emirates as compared to the imports of $2.50bn recorded during Jul-Oct FY23, depicting a slight increase of 0.36% YoY.

Qatar was the third on the list as Pakistan imported products worth $373.6mn from the country. This figure was up by 66.81%MoM from the imports of $224mn in Sep’22.

Kuwait was the fourth in line as imports came from the region during the month of Oct’22 was $285.7mn, depicting a significant increase of 86.54% YoY in Oct’21.

Among other countries, Pakistan’s imports from Indonesia stood at $250mn, marking a meager rise of 28.62% YoY. On the other hand, imports from Saudi Arabia decreased by 40.31% YoY to $226.2mn.

The imports from Singapore stood at $183.4mn, which went down by 24.22% YoY.

In the month of October alone, the total imports from China decreased by 35.04% YoY and month-on-month increased by 5.87% to $906mn. Similarly, imports from UAE plummeted to $514.3mn, decreasing by 29.46% YoY and 12.94% MoM.

Moreover, total imports from Qatar depicted a significant jump of 779.5% YoY and an increase of 66.81% MoM to $373.66 million.

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