10.97% increase in exports to China in 6 months despite the COVID-19 pandemic, the trading ratio has risen remarkably.
In the opening 6 months, the bilateral trade between China and Pakistan rose approximately 15% adding up to $14.39 billion as compared to the same period in 2021 which was $12.55 billion due to the pandemic, according to the records from the General Administration of Customs of the People’s Republic of China (GACC).
Exports to China from Pakistan’s end increased by 17.80% making a total of $382.22 million; in February it was up by nearly 30% crossing $287.65 million; in March it increased by 7.23% amounting to $367.71 million; COVID-19 impacted Pakistan’s exports in April causing a decrease of 21.15% standing at $283.53 million; in May it increased nearly 3% reaching $280.97 million while in June it increased by nearly 54% crossing $316.36 million.
Growing exports from Pakistan to China indicate a positive sign for the relationship between the two countries. It is showing the deep-seated trade and commerce momentum that has been created through China-Pakistan Economic Corridor (CPEC), as Shan Saeed, Chief Economist at Juwai IQI told China Economic Net.
Moreover, China has really established the market for Pakistani goods. Pak-China can benefit from a long-term relationship. 10.97% increase in exports to China in 6 months.
Pakistan can export more as China is the second largest economy in the world. Shan added further that the Chinese have good buying power and Pakistan can be their food basket therefore Pakistan should take an opportunity and China can help emigrate its industries & technologies to Pakistan in order to increase its export to China and all around the world.
Pakistan is expected to achieve $32 billion in trading within 2/3 yes and probably can achieve a figure of $50 billion before 2030.
The main trading products between Pak-China are rice, cotton yarn, refined copper products, sesame seeds, pine nuts, textiles, seafood, and other agricultural products that have increased year on year.
Such a significant increase in trading encouraged Pakistan’s economic recovery and increase exports to China.
