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Pakistan’s Import bill to top trading partners soars significantly in July

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August 23, 2021 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during July 2021, followed by United Arab Emirates (UAE), Singapore, Saudi Arabia, and the USA.

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 19% YoY to $1.31billion, as compared to $1.1bn recorded in July 2020.

While compared with the previous month, imports from China dipped by 29% MoM from $1.8bn.

This was followed by UAE, as Pakistan imported goods worth $525.28mn from the Emirates, which went up slightly by 4% YoY compared to the imports of $506.9mn recorded during Juy’20. On a MoM basis, imports from UAE went down by 29%.

Singapore was the third in the list as Pakistan imported products worth $293.6mn from the country. This figure was up by 69% YoY and down by 16% MoM from the imports of $173.79mn in July’20 and $347.79mn in June’21, respectively.

Next up were Saudi Arabia and the USA as imports came from the regions during the month was $293.47mn and $231mn, respectively. The imports from Saudi Arabia surged by a whopping 316% YoY and 4% MoM, while imports from the USA soared by 35% YoY and 7% down on a monthly basis.

Among other countries, Pakistan’s imports from Japan stood at $181.9mn, marking a jump of 236% YoY and 46% MoM, while imports from South Korea were mounted by 144% YoY and 25% MoM to $165mn.

The imports from Kuwait and Qatar stood at $15834mn and $125.24mn during the month. Compared to the same month last year, Pakistan’s import payments to Kuwait and Qatar swelled by 845% YoY and 97% YoY, respectively. whereas, on monthly basis, these payments were shrunk by 16% and 36% MoM respectively.

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Posted on: 2021-08-23T15:23:00+05:00

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