July 22, 2019 (MLN): Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during FY19, 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 FY19 were declined by 11.4 percent to $10.16 billion, as compared to $11.47 billion recorded during FY18.
This was followed by UAE, as Pakistan imported goods worth $8.86 billion from the Emirates as compared to the imports of $8.9 billion recorded during FY18, depicting a negligible decline of 0.47 percent.
Singapore was the third in the list as Pakistan imported products worth $3.3 billion from the country. This figure was down by 25.5 percent from the imports of $4.47 billion in FY18.
Saudi Arabia is just a little behind Singapore, 6% of Pakistan imports came from the region during the aforementioned period. Its exports to Pakistan dropped by 3 percent to $2.98 billion from $ 3 billion reported in previous fiscal year.
Among other countries, Pakistan’s imports from USA stood at $2 billion, remained the same as recorded in FY18, while imports from Qatar were increased by 27 percent to $2 billion in FY19 as against $1.6 billion in previous fiscal year.
During the period under review, the imports from India were recorded at $1.59 billion as against $1.8 billion last year, whereas the imports from Japan stood at $1.52 billion as against $1.87 billion in FY18, marking a decline of 12 percent and 18.7 percent respectively.
Pakistan’s imports from Indonesia were recorded at $1.06 billion against $1.08 billion, whereas the imports from Thailand stood at $1.03 billion against $1.08 billion, depicting a slight decline of 5 percent.
Similarly, the imports from Switzerland during the period under review dipped by 15 percent to $922 million against $1 billion, while the imports from Malaysia surged by 8 percent to $1 billion against $941.7 million in FY18.
Copyright Mettis Link News