Pakistan has reported a 30 per cent increase in exports to China over a 12-month period from November 2019 to November 2020.
As per details, the trade balance between Pakistan and China has reflected significant improvement after a 30 per cent increase in Pakistan’s exports to China.
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The development comes as Pakistan has taken essential steps to tackle the issue of trade deficit by increasing market access for Pakistani products and trade promotional activities.
Furthermore, adviser to Prime Minister of Pakistan for Commerce and Investment – Abdul Razad Dawood, has said that exports to Vietnam have increased by 121 per cent, United Kingdom – 27 per cent, Italy – 26 per cent, USA – 25 per cent and France by 22 per cent.
The primary factor behind Pak-China trade deficit is the structural problem between industries of the two countries.
China has a comprehensive manufacturing infrastructure for manufacturing of export goods as it has become largest trading partner of more than 120 nations around the world.
