May 23, 2022 (MLN): Amongst the top trading partners, China remains the top source of imports for Pakistan during April 2022 followed by the United Arab Emirates, Saudi Arabia, Qatar and Singapore, according to the latest figures released by the State Bank of Pakistan (SBP).
The total imports from China during the month under review were increased by 11% YoY to $1.37 Billion as compared to $1.24bn recorded in April 2021. However, compared with the previous month, imports from China fell by 19% from $1.70bn.
UAE is the second top import destination for Pakistan as the country imported worth $650mn, up by 36% YoY and 54% MoM when compared to $477mn and $422mn in April 2021 and March 2022, respectively.
Saudi Arabia was the third on the list as the Kingdom’s shipment amounted to $521mn. It was up by 62% YoY and 34% MoM during the said period under review.
Next up were Qatar and Singapore as imports recorded from the regions during the month were $450mn and $296mn, respectively. The imports from Qatar showed an increase of 203% YoY and 76% MoM. Imports from Singapore came down by only 1% MoM while up by 16% YoY.
Cumulatively, during July-April FY22, China maintained its position as a top importer with an import bill of $14.36bn, depicting an increase of 39% against the same period last fiscal year. This is followed by UAE with imports of $5.30bn and Saudi Arabia with $3.4bn, up by 23% and 81%, respectively.
