ISLAMABAD: The export of different items from Pakistan to the member countries of the South Asian Association for Regional Cooperation (SAARC) surged by 28% in the previous month of the current fiscal, WealthPK reports.
The data of data the State Bank of Pakistan shows that the volume of exports to SAARC member countries reached $167.490 million in September 2022 as compared to $130.611 million in the same month of the previous fiscal. The exports of various goods from Pakistan to SAARC member countries including Afghanistan, Bangladesh, India, Maldives, Nepal, and Srilanka grew by 17% and reached $452.113 million in the first three months of the current fiscal as compared to $387.058 million in the corresponding period of the previous financial year.
The volume of imports from SAARC member countries stood at $29.910 million in September 2022. Pakistan had a trade surplus of $137.580 million with SAARC member countries in September 2022. In addition, the trade surplus with SAARC member countries during the first three months of the current fiscal was recorded at $362.040 million.
In September 2022, Pakistan had a trade surplus with Afghanistan, Bangladesh, Maldives, Nepal, and Sri Lanka while a trade deficit was recorded with India. Bangladesh remained the top importer of Pakistani goods in September, followed by Afghanistan and Sri Lanka.
Exports from Pakistan to Bangladesh surged by 31% and reached $90.388 million in September 2022 as compared to $68.973 million in the same month of the previous financial year.
Exports from Pakistan to Bangladesh in July-Sep FY23 reached $234.504 million, representing a growth of 34% compared to $175.388 million during the same period of the last fiscal year. The trade surplus was recorded at $214.682 million in the first three months of FY23.
Exports to Afghanistan were recorded at $45.362 million in September 2022 against $31.975 million in the same month of the previous year, showing 42% growth. Exports to Afghanistan in the first quarter of the current fiscal reached $127.157 million as compared to $127.647 million during the same period of the previous financial year, depicting a decline of $0.490 million. The trade surplus with Afghanistan was recorded at $118.997 million.
Exports from Pakistan to Sri Lanka stood at $30.709 million in September 2022 against $28.248 million in the same month of the previous year, depicting a rise of $2.461 million. Exports to Sri Lanka were recorded at $87.755 million in the first quarter of the current fiscal up from $81.017 million during the same period of the previous fiscal, showing a rise of $6.738 million. The trade surplus with Sri Lanka was recorded at $72.288 million in the first quarter of the current fiscal.
Exports to the Maldives were recorded at $0.678 million in September 2022 as compared to $0.829 million in the same month of the previous year, showing a decline of $0.151 million. Export to the Maldives reached $1.754 million in the first quarter of the current fiscal up from $1.669 million during the same period of the previous financial year, showing a 5% increase.
Exports from Pakistan to Nepal and India were recorded at $0.344 million and $0.009 million, respectively, in September 2022 as compared to $0.543 and $0.043 million in the same month of the previous fiscal.
The export of various goods from Pakistan to Nepal and India reached $0.842 million and $0.101 million, respectively, against $1.238 million and $0.099 million in the same period of the previous financial year, according to the data available with WealthPK.
