China remains Pakistan’s top source of imports during 1HFY21

January 25, 2020 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during July-Dec FY21, followed by United Arab Emirates (UAE), Singapore, and Saudi Arabia.

According to the latest figures released by the State Bank of Pakistan (SBP), the total imports from China during the period under review were increased by 17% YoY to $5.7 billion, as compared to $4.87 billion recorded in the corresponding period of last year.

This was followed by UAE, as Pakistan imported goods worth $3.3 billion from the Emirates as compared to the imports of $3.64 billion recorded during Jul-Dec FY20, depicting a decline of 9% YoY.

Singapore was the third in the list as Pakistan imported products worth $1.34 billion from the country. This figure was up by 24% from the imports of $1 billion in the same period last year.

Saudi Arabia was the fourth in line as imports came from the region during the aforementioned period was $1 billion, depicting a significant increase of 39% YoY.

Among other countries, Pakistan’s imports from the USA stood at $993.58 million, marking a meager rise of 2% YoY, while imports from South Korea were increased by 68% YoY to $578.3 million.

The imports from Malaysia stood at $564.8 million, up by 20% YoY.

In the month of December alone, the total imports from China jumped by 40% YoY and 26% MoM to $1.192 billion. Similarly, imports from UAE surged to $614.47 million, up by 7% YoY and 17% MoM.

Moreover, total imports from Singapore depicted a significant jump of 77% YoY and an increase of 5% MoM to $289.27 million.

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