Arsalan Ali

The export of different goods from Pakistan to the member countries of the South Asian Association for Regional Cooperation (SAARC) soared by 11% during the first two months of the current fiscal, WealthPK reports.

The data of the State Bank of Pakistan shows that exports to SARRC countries reached $284.625 million during the first two months of the current fiscal as compared to $256.447 million during the same period of the previous financial year.

According to the data, exports from the country to SAARC members including Afghanistan, Bangladesh, India, Maldives, Nepal, and Sri Lanka grew by 9% on year-on-year basis and reached $152.429 million in August 2022 against $140.157 million in August 2021.

Imports from SAARC member countries stood at $32.474 million in August 2022. Pakistan had a trade surplus of $119.955 million with SAARC members in August 2022. In addition, the trade surplus with SAARC members during the first two months of the current fiscal was recorded at $224.462 million.

The trade with Afghanistan, Bangladesh, Maldives, Nepal and Sri Lanka remained surplus in August 2022 while the trade deficit was recorded with India.

In August 2022, Bangladesh remained the top importer of goods from Pakistan, followed by Afghanistan and Sri Lanka.

Exports from Pakistan to Bangladesh surged by 31% and reached $72.610 million in August 2022 against $55.382 million in August 2021. The volume of exports from Pakistan to Bangladesh in July and August 2022 reached $144.117 million, showing an increase of 35% as compared to the corresponding period of the previous fiscal. The trade surplus was recorded at $129.279 million in the first two months of the current financial year.

The export of different goods from Pakistan to Afghanistan reached $50.039 million in August 2022 as compared to $57.058 million in August 2021, showing a decline of 12%.

The export of various items from Pakistan to Afghanistan in July and August 2022 declined by 14% to $81.795 million from $95.672 million in July and August of 2021.

Pakistan’s exports to Sri Lanka stood at $28.901 million in August 2022 against $26.778 million in the same month of the previous year, depicting an increase of $2.123 million.

During July and Aug of the current fiscal, exports from Pakistan to Sri Lanka were recorded at $57.047 million, up from $52.769 million during the same period of the previous fiscal, showing a growth of 8%. The trade surplus with Sri Lanka was recorded at $46.141 during the first two months of the current fiscal.

The volume of exports to India was recorded at $0.045 million in August 2022 as compared to $0.003 million in August 2021. The export of various goods from Pakistan to India reached $0.092 million in the first two months of the current fiscal, up from $0.057 million during the same period of the previous financial year, showing a growth of 61%. The trade deficit with India stood at $28.257 million.

Exports from Pakistan to Maldives and Nepal were recorded at $0.618 million and $0.216 million, respectively, in August 2022 as compared to $0.515 and $0.421 million in the same month of last fiscal. The export of various goods from Pakistan to Maldives and Nepal reached $1.076 million and $0.498 million, respectively, in the first two months of the current fiscal against $0.840 million and $0.694 in the same period of the previous fiscal.

The trade surplus with Maldives and Nepal stood at $1.076 million and $0.375 million, respectively, during the first two months of the current fiscal, according to the data available with WealthPK.

Credit: Independent News Pakistan-WealthPk