Pakistan's refined copper exports hit record $329 M in 2023

 Pakistan has a significant amount of copper reserve in its tank. Copper was among the most prominent exports from Pakistan during last year. According to Pakistan import export data, the country’s refined copper exports turnover was record $329 million in 2023. During March, the highest amount of growth is recorded in terms of Pakistan’s refined copper exports. It is estimated to be $48 million during March 2023.

China was the biggest importer of refined copper from Pakistan as it was responsible for 98% of the country's overall refined copper exports. Among the fastest growing markets were the United Arab Emirates, Slovenia, Taiwan, Saudi Arabia and Canada. Cannon Metal Works, a leading copper export company from Pakistan was responsible for the maximum number of shipments worth around $30 million in 2023. 

Whereas, AK Brothers Metal, Babar Brothers and Ocean Metals were the leading refined copper export companies from Pakistan. Falcon Metals and Pyramids Metals from China were the major importers of refined petroleum from Pakistan during last year. 

On the other hand, Pakistan import data shows that the overall imports of refined copper by China were $42 million during 2023. Zambia was the biggest refined copper supplier to Pakistan with over 66% share last year. China, Tanzania, Congo and Poland were also significant suppliers of copper to Pakistan. Newage cables and Universal metals were the leading importers of refined copper from Pakistan.

In terms of unrefined copper exports, Pakistan exported nearly $10 million in 2023. China was the only market where Pakistan's unrefined copper exports were made. Copper Scrap were other crucial exports from Pakistan. According to Pakistan export data, the scrap copper exports recorded to be $22 million in 2023. During February, the scrap copper exports saw growth up to $3.3 million. Nearly 50% of Pakistan's scrap copper exports went to China and is estimated to be $12 million in 2023.

The United Arab Emirates was the second leading importer of copper from Pakistan with $2.8 million worth of scrap copper imports. Pakistan's scrap copper exports saw significant growth among Taiwan, South Korea, Japan, Spain and Italy. Rafiq Traders, Eastern Metal and Irfan Engineering Industries were the leading scrap copper export companies from Pakistan last year. Among the top import companies were Partners Metal from China, Lucky Recycling from UAE and Grateful Metals Company from Taiwan.

On the other hand, Pakistan's scrap copper imports were $43 million in 2023. Kuwait was the biggest scrap copper supplier to Pakistan with 18% market share. Whereas, the United States and Spain were other prominent suppliers of scrap copper to Pakistan. The UAE, Libya, and the United Kingdom were among the fastest growing markets for Pakistan's imports of scrap copper.

As the country's copper exports are progressing at a rapid rate, it is the best time for Pakistan's metal trading companies to extend their business globally. Through Global import export data provider, market intelligence reports, Pakistani metal trading companies can extract opportunities from the international market. 

The latest Pakistan customs data could help companies find top markets for metal exports, leading metal export and import companies, their purchasing behaviour, product pricing and ports volume. All these useful insights would assist Pakistan metal companies pitch right buyers and excel their business across the international market with ease.