Exports to USA up by 8% YoY in September

News Image

MG News | October 23, 2019 at 01:26 PM GMT+05:00

0:00

October 23, 2019(MLN): Total Exports from Pakistan as per Balance of Payment (BOP) during the month of September 2019 amounted to $1.9 billion (provisional), as against $1.89 billion (restated) in August 2019 and the US $1.80 billion during September 2018. This resulted in an increase of 0.89% MoM and 5.87% YoY.

Diversifying the export market would be a key in the enhancement of export proceeds as Pakistan's exports rely on only a few markets i.e. the United States, China, UK, Germany, United Arab Emirates, Netherlands and Spain.

As per the data released by State Bank of Pakistan (SBP), among the top trading partners, the United States of America (USA) remained the top export destinations of the Pakistani products during the month of September 2019 as its share of imports in Pakistan's overall exports increased by 8.09% YoY while it showed a decrease of 0.59% MoM.

In the second place was China as its imports stood at $145 million in September 2019, up by 1.62% YoY and 15.14% MoM.

This was followed by the United Kingdom, wherein Pakistan exported goods worth $141 million against the exports of $144 million last year, showing a decline of 2.09% but an increase of 2.87% as compared to the last month, August 2019.

Among other countries, Pakistan’s exports to Germany stood at $102 million in September 2019, as against $99 million during last year, marking a growth of 2.5% whereas it decreased by 2.2% when compared to August 2019.

The exports to UAE were recorded at $85.3 million against $81.2 million whereas the exports to the Netherlands were recorded at $84.2 million against $73.8 million last year, showing an increase of 14% YoY.

During September 2019, the exports to Spain were recorded at $81 million against $83 million last year, down by 2.6% YoY while exports on monthly basis jumped by 8.65% from $74.83 million.

The exports to Afghanistan stood at $77 million against $59 billion last year, up significantly by 29% YoY. On a monthly basis, it mounted by 33.85%. Whereas, the exports to Italy increased by 19%, from $58.7 million to $69.9 million when compared to the same period of last year.

Pakistan’s exports to Bangladesh were recorded at $57.6 million against $68.78 million last year, showing a decline of 16%. Whereas, the exports to India during September 2019, were recorded at $1.7 million against $25.6 million last year, depicting a massive decline of 93%.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg