Regional exports observe the growth of 1.8pc

Pakistan’s exports to nine regional countries posted paltry growth of 1.818 percent while imports from the area grew by nearly 31pc in the first 10 months of the ongoing fiscal year (10MFY21) from a year in the past, latest data released by the State Bank of Pakistan confirmed.

The nation’s exports to Afgha­nistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan, and the Maldives account for a small amount of $3.191 billion just 15.26pc of Pakistan’s whole international exports of $20.906bn in 10MFY21.

China tops the list of countries in terms of Pakistan’s exports to its neighbors, leaving other populous countries India and Bangladesh behind. Pakistan carried out its border trade with the farther neighbor Nepal, Sri Lanka, Bhutan, Bangla­desh and Maldives via sea only.

On the other hand, imports from these countries edged up to $10.754bn in 10MFY21 against $7.638bn over the corresponding period last year, showing an increase of 30.97pc. As a result of huge imports, Pakistan’s trade deficit with the region expanded throughout the period under review.