October 20, 2023 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during September FY24, followed by Saudi Arabia, U. A. E. Dubai, and Qatar.
According to the data released by the State Bank of Pakistan, the total imports from China during the period under review were up by 2.92% YoY to $880.97 million, as compared to $855.98 million recorded in the corresponding period of last year.
This was followed by Saudi Arabia, as Pakistan imported goods worth $415.48m from the Emirates as compared to the imports of $355.31m recorded during the same month of the previous year, depicting a rise of 16.93% YoY.
U. A. E. Dubai was the third on the list as Pakistan imported products worth $395.12m from the country. This figure was down by 33.12% from the imports of $590.76m in the same period last year.
Qatar was the fourth in line as imports from the region during the aforementioned period were $292.36m, depicting a significant decrease of 30.52% YoY.
Among other countries, Pakistan’s imports from Singapore stood at $178.38m, marking a decrease of 35.22% YoY, while imports from Indonesia decreased by 47.26% YoY to $152.24m.
Meanwhile, the imports from U. S. A. stood at $120.8m, down by 40.43% YoY.
While on a sequential basis, the total imports from China dropped by 2.15% MoM. On the other hand, imports from Saudi Arabia increased significantly by 2.72x MoM.
Imports from U. A. E. Dubai depicted a decline of 20.02% MoM.
Meanwhile, cumulatively, in the first quarter of FY24, China remained the top source of imports, recording $2.74bn as compared to $3.23bn in 1QFY23.
Whereas, total imports from D.A.E Dubai in 1QFY24 stood at 1.21bn, registering a decline of 39.16% when compared to the figures of 1QFY23 which stood at $1.99bn.
