Pakistan’s trade deficit with nine member countries of the Shanghai Cooperation Organisation (SCO) grew by more than 41%, reaching $11.703 billion, up from $8.298 billion the previous year.
The widening trade gap is mainly due to an increase in imports from China, Russia, and India. Although Pakistan’s exports to SCO countries, especially China, rose by 32.4% to $3.076 billion, imports grew even faster, surging 39.14% to $14.779 billion. The bulk of these imports came from China, which saw a sharp increase of 39.78%, totaling $13.506 billion.
Despite stronger trade relations with some SCO member states, Pakistan continues to face a significant trade imbalance. The rising imports, especially from China, are a key factor behind this growing deficit. While there has been some progress in export growth, the overall trade balance remains a challenge for Pakistan as it works to strengthen its economic ties within the SCO.
This situation underscores the need for Pakistan to find ways to increase exports and reduce its dependence on imports from key partners like China to manage its trade deficit more effectively.
