Pakistan’s exports to China crossed $300 million in December 2020: GACC

Exports increased by 41% on a year-on-year basis last December, according to GACC figures received by Pakistan.

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Pakistan’s exports to China crossed $312.33 million in December 2020, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).

Exports increased by 41% on a year-on-year basis last December, according to GACC figures received by Pakistan.

Read more: PM praises exporters commerce ministry for outshining India, BD in exports

Despite the COVID-19 pandemic, bilateral trade has increased significantly. Pakistan’s exports stood at $312.33 million in December 2020, up 41 percent from $221 million in the same month of the previous year, which grew for six consecutive months, China Economic Net (CEN) reported.

Last month Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood announced via Twitter that Pakistan’s export to China registered an increase of 30% in November 2020.

Read more: Abdul Razak Dawood: Potato Development Council will help increase exports

Pakistan made the highest gain in December 2020 when its export volume was $312.33 million against total exports to China.

Overall, from January to December 2020, China’s imports from Pakistan counted $2.12 billion irrespective of COVID-19 that impacted fiscal 2020.

Read more: “Remarkable turnaround” in the economy despite Covid-19: PM Khan

This year China’s export to Pakistan decreased 4.95 percent amounting to $15.36 billion as compared to the previous year which was $ 16.17 billion.

The total volume of trade between China and Pakistan was decreased by 2.69 percent amounting to $17.49 billion as compared to 2019 which was $17.97 billion due to COVID-19.

Read more: Pakistan’s economy to make a comeback in 2021 by 1.5 percent growth: Moody’s report

In the fourth quarter, China’s imports rose 44% from the previous year to $695.63 million, while the overall imports and exports in last quarter increased 4% amounting to $5.46 billion whereas in the last year it was $5.27 billion.

Among the growth of trade in major products between the two countries, textiles, seafood, and agricultural products have increased year on year, which has promoted Pakistan’s economic recovery and increased its exports to China.

Read more: A look back at Pakistan’s exports in 2020

Courtesy: APP

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