Pakistan's export of goods and services to China witnessed an increase of 42.02 percent during the first eight months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) announced. 

The overall exports to China were recorded at $1.896 billion during July to February (2023-24) against exports of $1.335 billion during July to February (2022-23), SBP data revealed in an official statement. 

On a year-to-year basis, exports to China also surged by 20.60 percent from $140.166 million in February 2023, against the exports of $169.041 million in February 2024. 

Meanwhile, on a month-on-month basis, exports to China decreased by 31.05 percent during February 2024 as compared to the exports of $245.169 million in January 2024, the SBP data revealed. Overall Pakistan's exports to other countries witnessed an increase of 10.15 percent in the first eight months, from $18.643 billion to $20.537 billion, the SBP data revealed. 

On the other hand, imports from China into the country during the months under review were recorded at $8.105 billion against $7.065 billion last year, showing an increase of 14.72 percent in July to February (2023-24). On a year-on-year basis, imports from China witnessed an increase of 90.63 percent from $601.189 million in February 2023, against the imports of $1.146 billion in February 2024. 

On a month-on-month basis, imports from China into the country however witnessed nominal decline of 2.65 percent during February 2024, as compared to the imports of $1.177 billion during January 2024, according to the data.