ISLAMABAD: Pakistan’s exports of products and services to Turkiye decreased by 4.97 percent in the first three months of the current fiscal year (2023–24) compared to the same time the previous year, as reported by the State Bank of Pakistan (SBP).
According to SBP data, total exports to Turkey stood at US $90.272 million from July to September (2023-24), marking a decrease from US $94.998 million in the same period of the previous fiscal year (2022-23).
Year-on-year, exports to Turkey also witnessed a decline of 9.70 percent, dropping from $32.026 million in September 2022 to $28.917 million in September 2023.
On a month-on-month basis, exports to Turkey decreased by 3.16 percent in September 2023 compared to August 2023, when exports were recorded at $29.863 million.
As per SBP data, Pakistan’s exports to various countries decreased by 4.96 percent in the first three months, declining from US $7.385 billion to US $7.018 billion.
Furthermore, the imports from Turkey to Pakistan during the reviewed period were reported at US $105.157 million, showing a 3.18 percent decrease from the corresponding period last year when imports were recorded at US $108.622 million.
On a year-on-year basis, imports from Turkey increased by 30.97 percent, rising from $27.659 million in September 2022 to $36.227 million in September 2023.
According to the provided data, month-on-month, imports from Turkey increased by 3.06 percent in September 2023 compared to August 2023, when imports were reported at US $35.151 million.
The data showed that overall imports into Pakistan experienced a significant decline by 23.81 percent, dropping from $16.355 billion to US $12.460 billion. —APP