Inside Financial Markets
US, UK, China top three destinations of Pakistani exports in 5 months - Inside Financial Markets

US, UK, China top three destinations of Pakistani exports in 5 months

– Associated Press of Pakistan

United States of America (USA) remained the top export destinations of the Pakistani products during the first five months of financial year (2020-21), followed by United Kingdom (UK) and China.

Total exports to the USA during July-November (2020-21) were recorded at US $ 1855.564 million against the exports of US $ 1744.463 million during July- November (2019-20), showing growth of 6.36 percent, according to State Bank of Pakistan (SBP).

This was followed by UK, wherein Pakistan exported goods worth US $ 773.837 million against the exports of US $ 726.942 million last year, showing increase of 6.45 percent.

China was the at third top export destination, where Pakistan exported products worth US $ 615.731 million during the months under review against the exports of US $727.480 million during last year, showing decline of 15.36 percent, SBP data revealed.

Among other countries, Pakistani exports to Germany stood at US $ 615.539 million against US $553.088 million during last year, showing increase of 11.29 percent while the exports to UAE were recorded at US $ 565.202 million against US $ 663.260 million last year, the data revealed.

During July-November (2020-21), the exports to Holland were recorded at US $411.201 million against US $420.714 million whereas the exports to Afghanistan stood at US $ 368.114 million against US $ 432.561million.

Pakistan’s exports to Italy were recorded at 288.122 million against the exports of US $ 324.971 million while the exports to Spain were recorded at US $ 289.997 million against US $ 380.270 million last year.

The exports to Bangladesh stood at US $ 219.825 million against US $ 297.676 million.

Similarly, the exports to France during the months under review were recorded at US $ 173.848 million against US $ 188.906 million while the exports to Saudi Arabia stood at US $ 176.097 million against US $ 199.001 million.

Pakistan’s exports to Turkey were recorded at US $ 99.612 million during the current year compared to US $123.692 million last year whereas the exports to Canada stood at US $ 114.718 million against US $ 114.916 million, to Poland US $ 115.569 million against US $ 108.735 million whereas the exports to Australia stood at US $ 95.655 million during the current year against US $ 81.536 million during last year.

Overall Pakistan’s exports to all other countries witnessed decline of 7.13 percent in first five months, from US $ 10.284 billion to US $ 9.550 billion, the SBP data revealed.

Syed Zaki Hussain

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