February 28, 2020 (MLN): Pakistan’s import bill has come down by 11% YoY and 3% MoM during the first month of the current fiscal year to $3.92 billion against $3.8 billion in Dec 2019 and $4.42 billion in January 2019.
The country-wise data published by SBP shows that China is the country where Pakistan imports the most. According to the latest figures, China’s exports to Pakistan which accounted for 23% of Pakistan’s imports in January 2020 witnessed an increase of 4% YoY and 7%, MoM, to $915.36 million.
United Arab Emirates (UAE) emerged as the second major country where Pakistan imported the most as its exports to Pakistan amounted to $536.2 million against $741.49 million reported in the same month of last year, depicting a decline of 28% YoY.
The USA has the second-largest share in Pakistan’s imports, as its exports to Pakistan accounted for 6% of Pakistan’s imports during the month under review. Its exports to Pakistan stood at $244.6 million, against $248.4 million in December 2019 and $225.9 million in the month of January 2019, showing a 2% decline MoM while 8% increase YoY.
Singapore has emerged as the fourth largest exporter to Pakistan, its exports to Pakistan has decreased by 4% YoY and increased 26% MoM to $ 206.56 million
Among other trading partners, Pakistan’s imports from Qatar during the month decreased significantly by 28%YoY and 13% MoM to $143 million whereas, imports from Kuwait also dropped by 11% YoY to $118.4 million.
