Imports from China soar by 74% YoY in Oct’21

November 22, 2021 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports as the country imported products worth $1.39 billion during Oct’21, up by 74% YoY from $800.56 million recorded in the corresponding period of last fiscal year, as per monthly import figures released by the State Bank of Pakistan (SBP) on Friday.

This was followed by United Arab Emirates (UAE) Dubai, Saudi Arabia, Singapore, and Japan.

During the month of Oct'21, Pakistan imported goods worth $731.29mn from UAE Dubai against the imports of $316mn recorded during Oct’20, depicting an increase of 131% YoY.

Saudi Arabia was the third in the list as imports came from the region worth $379.06mn during the said period. This figure was up by 102% from the imports of $187mn in the same period last year.

While Singapore was the fourth in line as Pakistan imported products during the aforementioned period was $243mn, depicting a marginal decline of 1% YoY/ 17% MoM.

Among other countries, Pakistan’s imports from Japan and USA stood at $205.56 and $178.08 million, marking a growth of 92% and 18%, YoY, respectively while imports from Indonesia were increased by 157% YoY to $192.32mn.

The imports from Malaysia stood at $162.92mn, up by 116% YoY.

During 4MFY22, the total imports from China jumped by 50.5% YoY to $5.41mn. Similarly, imports from UAE surged to $2.502mn, up by 54.9% YoY.

Moreover, total imports from Saudi Arabia depicted a significant jump of 113% YoY to $1.3mn during July-Oct FY22.

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