US becomes Pakistan’s top export destination
The monetary policy committee noted that headline inflation registered a broad-based and considerable year-on-year decline PHOTO: FILE
The United States (US) remained the top export destination for Pakistani products during the first eleven months of the financial year 2023-24, followed by China and the United Arab Emirates (UAE).
Total exports to the US during July-May 2023-24 were recorded at $4,989.140 million, down from $5,484.257 million during the same period in 2022-23, showing a decline of 9.02%, according to the State Bank of Pakistan (SBP).
China was the second-largest export destination, with Pakistan exporting goods worth $2,553.481 million, up from $1,889.195 million last year, marking an increase of 35.16%. The UAE ranked third, with exports worth $1,880.820 million, up from $1,341.804 million, according to SBP data.
Pakistani exports to the United Kingdom (UK) stood at $1,861.083 million, up from $1,808.288 million last year.