China dominates as Pakistan’s top import partner in April FY24

May 20, 2024 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during April FYFY24, followed by Saudi Arabia, U. A. E. Dubai, and Qatar.

According to the data released by the State Bank of Pakistan, the total imports from China during the period under review went up by 114.9% YoY to $1.29 billion, as compared to $598.2 million recorded in the corresponding period of last year.

This was followed by Saudi Arabia, as Pakistan imported goods worth $459.81m from the country as compared to the imports of $356.99m recorded during the same month of the previous year, depicting a rise of 28.8% YoY.

U. A. E. Dubai was the third on the list as Pakistan imported products worth $392.53m from the country. This figure was up by 15.3% from the imports of $340.38m in the same period last year.

Qatar was the fourth in line as imports came from the region during the aforementioned period were $293.42m, depicting a decrease of 1.7% YoY.

Among other countries, Pakistan's imports from the Indonesia stood at $195.67m, marking a rise of 41.9% YoY, while imports from U. S. A. decreased by 5.9% YoY to $175.49m.

Moreover, the imports from Singapore stood at $161.91m, down by 30.3% YoY.

On a monthly basis, the total imports from China increased by 1.4% MoM. Similarly, imports from Saudi Arabia increased by 80.2% MoM.

Moreover, imports from U. A. E. Dubai depicted a decline of 9.9% MoM.

Meanwhile, cumulatively, in 10MFY24, China remained the top source of imports, recording $10.65bn as against the total imports worth $8.34bn in 10MFY23.

Whereas, total imports from U. A. E. Dubai in 10MFY24 stood at $3.96bn, registering a decline of 16.6%.

Cumulatively, Saudi Arabia ranked as the third-largest contributor to Pakistan's imports, accounting for imports valued at $3.79bn in 10MFY24, compared to the imports worth $3.78bn in the same period last year

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