ISLAMABAD
\nPakistan\u2019s exports to China rose 2% in August to $158 million, even as the country\u2019s overall shipments fell sharply and the trade deficit widened, provisional data from the Trade Development Authority of Pakistan (TDAP) showed.
\nIn the first two months of the fiscal year (July\u2013August), exports to China climbed 7% to $331 million, making it Pakistan\u2019s third-largest buyer after the United States and the United Kingdom, according to Gwadar Pro on Sunday. Overall exports dropped 12.5% year-on-year to $2.42 billion in August, while imports rose 6.4% to $5.29 billion.
\nThat pushed trade deficit to $2.87 billion, up 30% from a year earlier. For July\u2013August, the deficit widened 29% to $6.01 billion. China also remained Pakistan\u2019s top source of imports, with inbound shipments rising 33% to $2.99 billion in the first two months. Beijing thus remained both Pakistan\u2019s biggest market for growth and its largest supplier of goods.
\nDespite the downturn, some categories bound for global and Chinese markets showed resilience. Textiles and leather, Pakistan\u2019s mainstay sector, earned $3.39 billion during July\u2013August, up 10% from last year. Bed linen, men\u2019s apparel, cotton yarn and women\u2019s garments led the way, while cement and dates also posted strong growth. Rice exports, however, fell by nearly a third.
\nRegionally, exports to Asia dropped 11% in the first two months, though China bucked the trend with steady growth. Economists say Beijing\u2019s demand for Pakistani textiles, raw materials and food products is providing a crucial cushion as traditional markets in Europe and America record declines.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Pakistan\u2019s exports to China rose 2% in August to $158 million, even as the country\u2019s overall shipments fell sharply and the trade deficit widened, provisional data from the Trade Development Authority of Pakistan (TDAP) showed. In the first two months of the fiscal year (July\u2013August), exports to China climbed 7% to $331 million, making […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-502889","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n