Pakistan's exports to China increased by 69% to $3.6 billion in 2021. Conversely, imports from Beijing rose 57.8% to $24.23 billion. Exports of leather products from Pakistan to China increased by 9.41% in the first half of 2021-22 on an annual basis. [Exports to China surge 69pc to $3.6bn in 2021 – DAWN]
Pakistan's exports to China increased 69% to $3.6 billion in 2021
Exports to China increased 68.9 per cent in 2021 to $3.58 billion while total trade between the two countries stood at $27.82bn, according to data released by the General Administration of Customs (GACC) of China.
Exports to China crossed $365.35 million in December 2021, up 17pc from a year ago when it totalled $312.33m, China’s Economic Net (CEN) has reported.
The country’s exports to China made the highest gain in November 2021 when they clocked in at $379.17m. In the preceding year, the highest value was recorded in December 2020 when its exports totalled $312.33m.
Imports from Beijing rise 57.8pc to $24.23bn
China’s exports to Pakistan in 2021 increased 57.8pc to $24.23bn. They were $15.36bn and $16.17bn in 2020 and 2019, respectively.
Shan Saeed, chief economist at Juwai IQI, a real estate technology firm, said trade between the two countries has made significant progress as both export and import volumes are on the rise. This is a testament to China’s commitment to the Belt and Road Initiative (BRI) projects with the China-Pakistan Economic Corridor in the limelight, he said.
Trade and commerce volumes signify that China wants to provide unconditional support to Pakistan and import more from it in order to uplift its economy, he added.
Mr Saeed said China will continue to support Pakistan for a long time to come as Islamabad values unconditional support from Beijing.
Among major items traded between the two countries, volumes of electronics, textiles, seafood and agricultural products have gone up on a year-on-year basis.
Leather exports
Total exports of leather goods witnessed an increase of 9.41pc in the first half of 2021-22 on a year-on-year basis.
Pakistan exported leather goods worth $319.79m in July-December against $292.28m in the same six-month period a year ago, according to data released by the Pakistan Bureau of Statistics (PBS).
Within leather products, exports of garments increased 9.73pc to $167.77m while those of gloves rose 9.19pc to $142.63m.
Likewise, exports of all other leather goods also increased 7.16pc during the period under review to $9.39m. Their foreign sales clocked in at $53.15m in December, up 1.87pc from a year ago.
December exports of leather garments increased 6.49pc while those of gloves dipped 2.79pc on a year-on-year basis. Exports of other leather goods also decreased 7.33pc in the same month.
Their exports declined 10.97pc in December 2021 versus foreign sales of $59.7m recorded in the preceding month, PBS data showed.
On a month-on-month basis, exports of leather garments and leather gloves also dipped 10.03pc and 11pc, respectively, while those of all other leather products went down 26.08pc.
