Regional exports increase 3pc in July-September

The first quarter of the current fiscal year witnessed a marginal growth of three per cent in exports to nine regional countries, mainly driven by an increase in shipments to China, data compiled by the State Bank of Pakistan showed on Thursday. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives rose to $981.39 million in July-September FY24. In FY23, exports to regional countries dipped 21.1pc to $3.331bn on a year-on-year basis. Pakistan’s bulk of the regional exports share, which accounts for 60pc, is with China while the rest is with the remaining eight countries. Exports to China increased 28.4pc to $633.37m in July-Sept FY24 from $501m over the corresponding months of last year. In FY23, the exports to China declined 27.3pc to $2.02 from $2.78bn in FY22. It was the first decrease in the post-Covid period. Pakistan’s exports to Afghanistan posted a positive growth of over 1pc to $128.53m in July-Sept FY24 from $127.15m in the same months last year.