Pakistan’s exports to China reach $2.41 bn in first 11 months of FY 2023

ISLAMABAD: Pakistan’s exports to China in May 2024 were recorded at $172.6 million, bringing the total exports to China for the first 11 months of FY 2023-24 to $2.4093 billion, according to a report by the Trade Development Authority of Pakistan (TDAP).

This marks a slight increase of 0.1 per cent compared to the same period in FY 2022-23, when exports to China totaled $2.407 billion, Gwadar Pro reported on Monday.

TDAP’s report also noted that Pakistan’s total goods exports to all partner countries in May 2024 were $2.792 billion, a 27.08 per cent increase over the same month in the previous financial year.

From July to May 2023-24, Pakistan’s exports to all partner countries were recorded at $28.07 billion, reflecting a 10.65 per cent increase over the first 11 months of FY 2022-23.

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In May 2024, the export value for the textile and leather sector was $1.645.5 billion, a 17.6 per cent increase compared to the same month of the previous year.

The agro and food sector also saw a significant rise, with exports totalling $642 million, a 44.8 per cent increase.

For the period of July-May FY 2023-24, the agro and food sector’s total exports were $7.464.1 billion, registering a 37.6 per cent growth. INP