Business

US, China, and UK top export ranks

Other notable export destinations include Germany and the UAE

APP June 28, 2023

Senior Vice Chairman of the Towel Manufacturers Association, Syed Usman Ali criticised the SBP’s approach, highlighting that banks are charging a 1% withholding tax on the entire realised amount, even though exporters are subjected to mark lien rates according to the delayed period. Photo: file

ISLAMABAD:

The US continues to be the largest market for Pakistani exports during the eleven months of the FY2022-23, with China and the UK following closely behind.

According to data from the SBP, total exports to the US from July to May (2022-23) were valued at $5,481.385 million, representing a decline of 11.05% compared to the same period last year when exports amounted to $6,162.991 million.

China remained the second-largest export destination, with Pakistan exporting goods worth $1,891.949 million, marking a decrease of 25.64% compared to the previous year’s exports of $2,544.418 million.

The UK secured the third position as an export market, with goods valued at $1,806.385 million being exported during the reviewed period. This figure reflects a decline of 10.21% from the exports of $2,011.859 million in the corresponding period last year.

Other notable export destinations included Germany, with exports amounting to $1,488.461 million (a 5.48% decrease), and the UAE, with exports recorded at $1,341.359 million (a decrease of 17.91%).

Published in The Express Tribune, June 28^th, 2023.

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COMMENTS (1)

test | 1 year ago | Reply Mental cases call it trade. Also mental cases call it exports. 30 billion dollars exports are no exports at all. 100 billion dollars trade is no trade at all. Exports less than 500 billion dollars are unacceptable. I don t consider a country to be a country whose exports are less than 500 billion dollars.

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