In spite of the COVID-19 pandemic, the trading ratio has been raised notably, as per sources.
In the first 6 months, China and Pakistan trade has been raised approximately 15% amounting $ 14.39 billion as compare to the same period in 2021 which was $12.55 billion due to COVID-19, as per the records from the General Administration of Customs of the People’s Republic of China (GACC).
Comparing as per the records, exports to China from Pakistan’s end increased by by 17.80% amounting to $382.22 million; in February it was up by nearly 30% crossing $287.65 million; in March it increased 7.23% amounting to $367.71 million; COVID-19 impacted Pakistan’s exports in April causing a decrease of 21.15% standing at $283.53 million; in May it increased nearly 3% reaching $280.97 million while in June it increased by nearly 54% crossing $316.36 million.
Growing exports from Pakistan to China indicating a positive sign between the countries. It’s showing the deep seated trade and commerce momentum has been created through China-Pakistan Economic Corridor (CPEC), as Shan Saeed, Chief Economist at Juwai IQI told China Economic Net.
Further he added, China has really established the market for Pakistani goods. Pak-China can benefit from long-term relationship.
Pakistan can export more as China is the second largest economy in the world. Shan added further that Chinese has good buying power and Pakistan can be their food basket therefore Pakistan should take an opportunity and China can help relocate it’s industries & technologies to Pakistan in order to increase its export to China and all around the world.
Pakistan is expected to achieve $32 billion in trading within 2/3 yes and probably can achieve a
figure of $50 billion before 2030.
The main trading products between Pak-China are rice, cotton yarn, refined copper products, sesame seeds, pine nuts, textiles, seafood, and other agricultural products have increased year on year.
Such significant increase in trading encouraged Pakistan’s economic recovery and increase exports to China.