Exports to China up 2pc in Jan-Sept

BEIJING: Pakistan's export to China crossed $2.57 billion in first nine months of 2022, up 2 percent year on year, showed an official data from the General Administration of Customs of the People's Republic of China (GACC).

Ghulam Qadir, Commercial Counsellor at Pakistan Embassy in China, said exports to China were increasing every month on a yearly basis and the government was working hard to increase export to China and reduce the trade deficit to enhance bilateral trade.

"We are working with the Chinese partners to shift some of the strategic and priority sectors and manufacturing facilities to Pakistan. Our main target is to produce products in Pakistan and export to the world,” he stated.

According to the data from GACC, exports to China reached $182.18 million in the month of September whereas, in the same month last year, the exports were recorded at $257.47 million, which showed floods hit badly Pakistan's exports worldwide.

Overall, from January to September 2022, China's imports and exports from Pakistan counted $20.19 billion up 3 percent year on year, while in the same period of 2021, it was $19.60 billion, whereas in the month of September, Pakistan's exports to China decreased by 29 percent year-on-year, weighed down by heavy monsoon caused floods and Covid-19, which destroyed many sectors including agriculture, infrastructure, and industry.

According to a Pakistani expert, the trade potential volume between Pakistan and China in all sectors is significant and the business community can take benefit from it. Recent floods has devastated the country’s economy as around 33 million people have been affected and the agriculture sector has faced losses, he said.

The exports of major products to China increased such as rice, Zinc ores and concentrates, oil seeds and oleaginous fruits, sesamum seeds, pine nuts, seafood, and other agricultural products.