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

April 22, 2024 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during March FY24, followed by U. A. E. Dubai, Qatar, and Saudi Arabia.

According to the data released by the State Bank of Pakistan, the total imports from China during the period under review went up by 70.9% YoY to $1.16 billion, as compared to $680.05 million recorded in the corresponding period of last year.

This was followed by U. A. E. Dubai, as Pakistan imported goods worth $435.36m from the country as compared to the imports of $384.56m recorded during the same month of the previous year, depicting a rise of 13.2% YoY.

Qatar was the third on the list as Pakistan imported products worth $307.23m from the country. This figure was up by 2.8% from the imports of $298.87m in the same period last year.

Saudi Arabia was the fourth in line as imports from the region during the aforementioned period were $255.18m, depicting a decrease of 35.5% YoY.

Among other countries, Pakistan's imports from Indonesia stood at $236.49m, marking a rise of 71.5% YoY, while imports from Singapore increased by 7.3% YoY to $208.88m.

Moreover, the imports from U. S. A. stood at $188.71m, down by 11% YoY.

On a sequential basis, the total imports from China increased by 2.4% MoM. Similarly, imports from U. A. E. Dubai increased by 19.7%% MoM.

Moreover, imports from Qatar depicted an increase of 17.9% MoM.

Meanwhile, cumulatively, in 9MFY24, China remained the top source of imports, recording $9.26bn as against the total imports worth $7.75bn in 9MFY23.

Whereas, total imports from U. A. E. Dubai in 9MFY24 stood at $3.57bn, registering a decline of 19.1%.

Cumulatively, Saudi Arabia ranked as the third-largest contributor to Pakistan's imports, accounting for imports valued at $3.33bn in 9MFY24, compared to the imports worth $3.42bn in the same period last year

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