Beijing, 6 November 2021 (TDI): Pakistani exports to China have registered 75% growth in the first three quarters of 2021.
For first 3 quarters of 2021, Pakistan’s exports to China have registered growth of 75% reaching $2.5 billion. Overall trade volume also increased by 62% to $19.6 billion. All set for record trade figures by end of this year IA.@SMQureshiPTI @razak_dawood @ForeignOfficePk
— Moin ul Haque (@PakAmbChina) November 4, 2021
Pakistan and China are ironclad friends. They have strengthened their relations by expanding cooperation. The two countries have expanded their relationship in every field of life.
The China-Pakistan Economic Corridor (CPEC) has further strengthened the cooperation between the two states. CPEC has been a successful Chinese project under the Belt and Road Initiative (BRI) which has connected Pakistani seaport Gwadar with Chinese province Xinjiang. It has created new channels for cooperation between the two states.
Several Chinese enterprises are working in Pakistan under the CPEC project. CPEC has stimulated bilateral trade between the two countries. The seafood products from Gwadar have seen rapid growth of exports to NorthWest Chinese Province Xinjiang.
Rapid growth in Pakistani exports to China
The first three quarters of 2021 experienced 75% growth in Pakistani exports to China. Pakistani exports to China have reached a magnificent number of $2.5 billion. The overall trade between the two states has reached $19.6 billion. The trade volume has increased to 62%. This huge number emphasizes massive cooperation between China and Pakistan.
Pakistan has been a big exporter of cotton, textiles, and agriculture. Pakistan also exports a large quantity of sugar and mango to China. Experts believe that they have great potential in the bilateral trade of the two countries.
China, Pakistan’s biggest trading partner in last 6 years
Pakistan’s biggest trade partner for the last six consecutive years has been China. The two countries enjoy close trade relations. Pakistan has been China’s second-largest export destination while China also imports from Pakistan in a huge number.
The two sides believe that there are still spaces between the two countries that should be utilized to expand cooperation between the two states. Therefore, CPEC aims to create new channels for trade opportunities between the two countries. This will further increase Pakistani exports to China.
