Pakistan’s export to China crossed $1.735 billion in January-to-June in the first half of 2021, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).
Exports from Pakistan to China increased by 70.3% during the first half of the current fiscal year (2020-2021), according to GACC figures.
Despite the COVID-19 pandemic, bilateral trade has increased significantly. Pakistan’s exports stood at $1.735 billion in the first half of FY21, up 70.3 percent from $1.019 billion in the same period of the previous year.
Last month Pakistani Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood announced via Twitter that Pakistan’s export to China registered an increase of 34% in FY2020-21.
“I’m pleased to share that our exports have done quite well in our major markets. During FY2021, our exports to China increased by 34% to $2.33 billion as compared with $1.74 billion in the previous FY, increasing $586 million,” tweeted Dawood.
This half fiscal year China’s export to Pakistan also increased 48 percent amounting to $10.87 billion as compared with the previous year which was $7.35 billion.
The total volume of trade between China and Pakistan increased by 50.8 percent amounting to $12.6 billion as compared with 2020 which was $8.37 billion due to COVID-19.
Among the growth of trade in major products between the two countries, textiles, seafood and agricultural products have increased year on year, which has promoted Pakistan’s economic recovery and increased its exports to China.
Source: China Economic Net