Recent data from the Trade and Export Promotion Center reveals a significant rise in imports from northern regions, largely attributed to the booming entry of electric vehicles (EVs) and other consumer goods. This upward trend is a promising indicator of robust trade activities and economic resilience.
From January to June 2024, imports from the north increased by 34.8 percent, demonstrating a strong and growing economic connection with these regions. The value of these imports reached Rs272.81 billion, driven by a substantial influx of EVs, smartphones, and readymade garments.
The import of EVs has been particularly noteworthy, with 7,931 units worth Rs21.83 billion imported in the first 11 months of the current fiscal year, a dramatic increase from 1,269 units worth Rs3.75 billion in the same period last fiscal year. This surge highlights the growing preference for eco-friendly transportation options.
Similarly, the country imported 1.23 million units of smartphones worth Rs17.27 billion from the north, reflecting the increasing demand for advanced technology. Readymade garments imports also rose significantly, fulfilling 80 percent of the nation's needs and reaching a value of Rs33.67 billion.
The import of chemical fertilizers and apples from the north further contributed to the positive trade figures. During the review period, the country imported 99,965 tonnes of chemical fertilizers worth Rs8.69 billion and 65,827 tonnes of apples worth Rs6.98 billion.
Despite a slight overall decline in total imports due to decreased trade with the south, the economic outlook remains optimistic. The surge in imports from the north, particularly in high-demand sectors like EVs and technology, underscores the nation's adaptability and potential for continued growth.
Trade experts emphasize that the shift towards northern imports, driven by competitive pricing and high-quality products, is a testament to the country's evolving trade dynamics and consumer preferences.
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