BEIJING, Dec. 8 (INP): In a significant economic development, Pakistan has witnessed an extraordinary 65% increase in its exports to South China from July 2022 to October 2023, showcasing the nation’s growing influence in the region, said Muhammad Irfan Trade & Investment Counsellor at Pakistan Consulate in Guangzhou.
Trade and investment Counsellor said that the surge in trade is particularly notable in key provinces, including Fujian, Guangdong, Guangxi, Hainan, and Hunan, which experienced remarkable growth rates of 194%, 3%, 64%, 53%, and 117%, respectively, China Economic Net (CEN) reported on Friday.
He said that from July 2022 to Oct 2023 Pakistan exports to the south region were $334.88 million whereas last year in the same period it was USD 202.71 million which increased by 65% year on year
“Fujian Province, renowned for its robust economy and strategic location on China’s southeastern coast, witnessed an impressive 194% surge in imports from Pakistan during this period.
This remarkable growth can be attributed to the strengthening economic ties between the two nations and the increasing demand for Pakistani products in Fujian.
The main products imported from Pakistan are Uncombed single cotton yarn, Sesamum seeds, and seafood”, he added.
He further said that overall Pakistan’s exports to China also increased 41% from July 2022 to Oct 2023 worth USD 1.23 billion whereas last year in the same period it was USD 876.8 million. Guangdong, a key economic powerhouse and a major player in China’s export landscape, saw a steady 3% rise in imports from Pakistan.
This growth is a testament to the resilience of the trade relationship between the two regions, emphasizing the mutual benefits derived from their economic collaboration.
Irfan said that the province of Guangxi experienced a substantial 64% increase in imports from Pakistan, highlighting the diversification of trade avenues and the effectiveness of bilateral trade agreements.
The strategic positioning of Guangxi, bordering Vietnam and serving as a gateway to Southeast Asia, further amplifies its role as a pivotal partner for Pakistan.
“Hainan Province, known for its tropical climate and burgeoning tourism industry, witnessed a commendable 53% surge in imports from Pakistan.
This growth is indicative of the expanding market for Pakistani goods in this southernmost province, showcasing the versatility and appeal of Pakistani products in diverse sectors.
Hunan Province, located in south-central China, recorded an impressive 117% increase in imports from Pakistan during this period”, Irfan stated.
Muhammad Irfan said that the overall spike in exports to South China reflects the success of Pakistan’s strategic trade policies, its commitment to fostering economic partnerships, and the quality of its export commodities.
As both nations continue to strengthen their economic ties, the surge in trade with these key provinces underscores the potential for further collaboration, positioning Pakistan as an integral player in the dynamic South Chinese market.
He added that top products imported from Pakistan to China are cotton yarn, Sesamum seeds, Zinc Chromium ores, and seafood.
INP/javed
