March 20, 2024 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during February 2024, followed by U. A. E. Dubai, Saudi Arabia, 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 90.64% YoY to $1.15 billion, as compared to $601.19 million recorded in the corresponding period of last year.

This was followed by U. A. E. Dubai, as Pakistan imported goods worth $363.74m from the country as compared to the imports of $208.87m recorded during the same month of the previous year, depicting a rise of 74.15% YoY.

Saudi Arabia was the third on the list as Pakistan imported products worth $293.34m from the country. This figure was up by 32.44% from the imports of $221.49m in the same period last year.

Qatar was the fourth in line as imports came from the region during the aforementioned period were $260.57m, depicting a decrease of 7.37% YoY.

Among other countries, Pakistan's imports from the Kuwait stood at $209.45m, marking a drop of 41.14% YoY, while imports from Indonesia decreased by 21.41% YoY to $193.4m.

Moreover, the imports from Russian Federation stood at $189.04m, up by 83.53% YoY.

On a sequential basis, the total imports from China dropped by 2.66% MoM. Similarly, imports from U. A. E. Dubai dropped by 5.36% MoM.

Moreover, imports from Saudi Arabia depicted a decline of 24.56% MoM.

Meanwhile, cumulatively, in 8MFY24, China also remained the top source of imports, recording $8.11bn as against the total imports worth $7.07bn in 8MFY23.

Whereas, total imports from U. A. E. Dubai in 8MFY24 stood at $3.13bn, registering a decline of 22.03%.

Cumulatively, Saudi Arabia ranked as the third-largest contributor to Pakistan's imports, accounting for imports valued at $3.08bn in 8MFY24, compared to the imports worth $2.24bn in the same period last year

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Posted on: 2024-03-20T10:43:31+05:00