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

June 22, 2024 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during May 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 115.9% YoY to $1.5 billion, as compared to $695.14 million recorded in the corresponding period of last year.

This was followed by U. A. E. Dubai, as Pakistan imported goods worth $507.58m from the country as compared to the imports of $285.07m recorded during the same month of the previous year, depicting a rise of 78.1% YoY.

Qatar was the third on the list as Pakistan imported products worth $323.37m from the country. This figure was up by 8.2% from the imports of $298.73m in the same period last year.

Saudi Arabia was the fourth in line as imports came from the region during the aforementioned period were $302.89m, depicting a decrease of 26.2% YoY.

Among other countries, Pakistan's imports from the Singapore stood at $279.66m, marking a rise of 66% YoY, while imports from Indonesia decreased by 7.7% YoY to $203.6m.

Moreover, the imports from U. S. A. stood at $185.42m, down by 8.8% YoY.

On a monthly basis, the total imports from China increased by 16.7% MoM. Similarly, imports from U. A. E. Dubai increased by 29.3% MoM.

Moreover, imports from Qatar depicted an increase of 10.2% MoM.

Meanwhile, cumulatively, in 11MFY24, China remained the top source of imports, recording $12.15bn as against the total imports worth $9.04bn in 11MFY23.

Whereas, total imports from U. A. E. Dubai in 11MFY24 stood at $4.47bn, registering a decline of 11.2%.

Cumulatively, Saudi Arabia ranked as the third-largest contributor to Pakistan's imports, accounting for imports valued at $4.1bn in 11MFY24, compared to the imports worth $4.19bn in the same period last year

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