Pakistan continues to import heavily from China in August

September 29, 2020 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during the month of August 2020, followed by United Arab Emirates (UAE), Singapore and Saudi Arabia.

According to the latest figures released by State Bank of Pakistan (SBP), the total imports from China during the month were declined by 29 percent MoM to $783.36 million, as compared to $1.1 billion recorded in the preceding month. While on yearly basis the imports from China moved up by 2% YoY.

This was followed by UAE, as Pakistan imported goods worth $559.5 million from the Emirates as compared to the imports of $539 million recorded during Aug’19 and $386.6 million in July’20, depicting an increase of 14% YoY and 15% MoM.

Singapore was the third in the list as Pakistan imported products worth $192.37 million from the country. This figure was down by 7% from the imports of $206.7 million in the same month last year and up by 11% from the imports of $173 million recorded last month.

Saudi Arabia was the fourth in line as imports came from the region during the aforementioned month was $144.46 million, depicting a significant increase of 105% MoM and 16% YoY.

Among other countries, Pakistan’s imports from USA stood at $140 million, marking a decline of 18% MoM and an upsurge of 42% YoY, while imports from Switzerland were increased by 174% YoY and 21% MoM to $109.9 million.

The imports from Malaysia stood at $86 million, marking a rise of 7% MoM.

Copyright Mettis Link News