On Monday, Pakistan’s exports to its nine regional countries plunged over 5.7 per cent in the nine months of the current fiscal year due to the impact of Covid-19, data of the State Bank of Pakistan showed.
The country’s exports to these countries — Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives — account for a small amount of $2.788 billion, which is just 14.91pc of Pakistan’s total global exports of $18.688bn in 9MFY21.
China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving other populous countries India and Bangladesh behind. Pakistan carried out its border trade with the farther neighbour Nepal, Sri Lanka, Bhutan, Bangladesh and Maldives via sea only.
On the other hand, the country’s trade deficit with the region narrowed slightly during the period under review as imports from these countries also dipped.
Pakistan’s exports to China rebounded and posted positive growth during July-March 2020-21. The bulk of the share of regional exports, which accounts for 50.46pc is for China while the remaining is for eight countries