Pakistan’s shipments to USA surged by 28% to $5bn in FY21

July 23, 2021 (MLN): USA remained as the top export destination for Pakistan with $5billion worth of shipments in FY21, against the exports of $3.9bn in FY20, showing an increase of 28% YoY.

According to the Country-wise trade data released by SBP, UK appeared as the second major destination country during FY21, wherein Pakistan exported goods worth $2.047bn against the exports of $1.64bn in FY20, marking a growth of 25% YoY.

This was followed by China, wherein the total exports to the country during the said period swelled by 23% YoY to $2.043bn from the exports of $1.66bn recorded in FY20.

Next in line are Germany and UAE, Pakistani exports to them pegged at $1.5bn and $1.48bn during FY21, respectively. Exports to Germany depicted a jump of 16% YoY, while exports to UAE dipped by 6% YoY.

Among other countries, Pakistani exports to the Netherlands (Holland) during FY21 stood at $1.11bn, up by 14% YoY, followed by Afghanistan and Spain with $983.29mn and $801.7mn respectively, the data revealed.

Meanwhile, in the month of June’21 alone, Pakistan exported $555.48mn worth of goods and services to the USA which was 80% higher compared to June’20 figures and 22% higher compared to the previous month’s exports.

This was followed by China and UK with shipments worth $211mn (up 65% YoY, 10% MoM) and $186.95mn (up 28% YoY, 11% MoM) respectively.

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