According to sources from the Pakistani Embassy in Beijing, there has been a recent increase in the export of copper and related articles from Pakistan to China. In the first two months of this year, the exports saw a rise of approximately 16.5%, as reported by China Economic Net.
Sources claimed that this is due to the growing demand for copper products in China and increasing economic ties between the two countries. The export of copper and articles thereof from Pakistan to China has been on a steady rise since 2015, with the total export value reaching $176 million in the first two months of 2023 whereas last year it was $151 million – an increase of about 16.5%.
Muhammad Ahmed, a Pakistani copper exporter said that this has been driven by the increased investment from Chinese companies in Pakistan under China-Pakistan Economic Corridor, as well as the growing demand for copper products in China. As such, this trend is likely to continue into the future, with both countries expected to benefit from increased economic cooperation.
He further said that this increased export of copper from Pakistan to China has a positive impact on both countries’ economies. It has not only generated revenue for Pakistan but also created employment opportunities and provided access to new markets for Pakistani businesses.
“The top product exported from Pakistan to China was refined copper products, unwrought (community code 74031900) worth $94.45 million in the first two months of 2023 whereas last year in the same period it was $77.61 million. Overall, this product exported from Pakistan to China was $470.94 million in 2022”, sources stated.