Over 18% surplus witnessed in Pak-Bangladesh trade: SBP

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Pakistan’s goods and services trade with Bangladesh witnessed a surplus of 18.64 percent during first five months of current fiscal year (2022-23) as compared to the corresponding period of last year.

The trade surplus during the months under review was recorded at $329.668 million against $277.863 million during same months of last year, showing 18.64 percent growth.

The overall exports to Bangladesh were recorded at $365.290 million during July-November (2022-23) against exports of $ 316.680 million during July- November (2021-22), showing growth of 15.34 percent, SBP data revealed.

Meanwhile, on year-to-year basis, exports to Bangladesh during November 2022 witnessed a nominal decrease of 2.66 percent, from US $ 72.356 million to US $70.431 million.

Similarly on month-on-month basis, exports of Bangladesh were rose by 16.69 percent during November 2022 in comparison with exports of US $ 60.355 million in October 2022, SBP data said.

Overall Pakistan’s exports to other countries witnessed a decrease of 2.01 percent in first five months, from US $ 12.313 billion to US $ 12.065 billion, the SBP data revealed.

On the other hand, the imports from Bangladesh during the period under review were recorded at $ 35.622 million against $38.817 million last year, showing a decrease of 8.23 percent.

Meanwhile, year-to-year basis, imports from Bangladesh during November 2022 also decreased by 18.25 percent from US $10.559 million last year to US $8.631 million.

On month-on-month basis, the import from Bangladesh increased by 20.37 percent during November 2022 when compared to the import of US $7.170 million in October 2022, SBP data said.

The overall imports into the country witnessed decrease of 16.15 percent, from $29.663 billion to US $ 24.872 billion, according to the data.—APP