Given that they have already climbed by 11% in the first half of 2022, shipments to China are anticipated to surpass $4 by the end of this year.
According to sources, $1.918 billion was passed in the first half of 2022, up 10.97 percent from $1.728 billion over the same period the previous year.
According to official data from the People’s Republic of China’s General Administration of Customs (GACC), it is steadily rising on an annual basis.
Pakistan sold commodities worth $2.78 billion during the 12 months of the fiscal year 2021–22, up 36.08 percent from the $2.04 billion in exports during the same period, according to the SBP (State Bank of Pakistan).
Due to COVID-19, volume between the two nations climbed by about 15%, from $12.55 billion in the first half of 2021 to $14.39 billion in the first half of this year.
When compared to data from the first half of 2021, exports to China this year increased in January by 17.80 percent, totaling $382.22 million; in February, they increased by about 30 percent, crossing $287.65 million; and in March, they increased by 7.23 percent, totaling $367.71 million. However, due to COVID-19, exports decreased in April by 21.15 percent, totaling $283.53 million; however, they increased in May by 3 percent, reaching $280.
China gave Pakistan a warm welcome and opened a market just for its goods, which would be advantageous for both nations to have long-term cooperation. According to a professional economist, Pakistani businessmen might export more goods to China, which has the second-largest economy in the world.
He continued by saying that Chinese people have a large market and strong purchasing power, which would be advantageous for Pakistan since it might turn into a source of food for China.
Pakistan should therefore take advantage of this chance so that China can move its businesses and technologies there, increasing exports to both China and the rest of the globe as a result.