The country’s export of goods to China increased by 7.3percent during July-May (2017-18) to US $1.6 billion against the export of goods worth $1.5 billion in same period of the preceding year.
The import of goods from China also witnessed an increase of 11.8 percent as it rose to $9.3 billion in 11 months of previous fiscal year from $8.3 billion in July-May (2016-17), according to latest data shared by State Bank of Pakistan (SBP).
On yearly basis, the export of goods to China increased to $152.5 million in May 2018, against the exports worth of $125.5 million in same month of previous year, showing an increase of 21.5 percent.
The imports also witnessed an increase of 19.2 percent as it rose to $1.01 billion in May 2018 against the imports worth of $846.4 million in same month of last year.
The export of services to China during the period under review, however declined by 11.8 percent to $184.5 million during July-May (2017-18) against export of services worth $209.38 million during same period of last year.
Total import of services from China during the corresponding year increased to $990.27 million from $857.19 million during same period of the preceding year.
On yearly basis, the export of services increased from $14.54 million in May 2017 to $15.9 million in 2018, showing an increase of 9.6 percent. Similarly the import of services from China also increased by 41.6 percent to $107.14 million May 2018 from $75.63 million in same month of previous year.—APP