US remains top export destination for Pakistan
PHOTO: FILE
During the first three months of the current fiscal year 2023-24, the United States (US) continued to be the leading export destination for Pakistani products. It was followed by China and the United Kingdom (UK), according to data from the State Bank of Pakistan (SBP).
Exports to the US from July to September 2023 amounted to $1,376.125 million, a decrease of 17.04% compared to the same period in 2022, which saw exports of $1,658.815 million.
In the case of China, Pakistan exported goods worth $633.374 million during the same period, marking a 26.42% increase from the previous year when exports stood at $501.000 million.
The UK occupied the third spot as a top export destination, with Pakistan exporting products worth $518.948 million during the same months. This showed a marginal decline compared to exports of $519.948 million in the previous year.
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Other significant export destinations for Pakistan included the United Arab Emirates (UAE), with exports valued at $472.166 million, a 27.64% increase from the previous year. Exports to Germany were recorded at $364.446 million, a slight decrease from the previous year’s $456.895 million.
Pakistan’s trade with various countries in the region and beyond continues to evolve, with exports showing both growth and fluctuation during the first quarter of the fiscal year 2023-24.
Published in The Express Tribune, November 1st, 2023.
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