Pakistan shipped $3.08 bln worth of exports to USA, up by 12% YoY in 8MFY21

March 25, 2021 (MLN):  USA remained as the top export destination for Pakistan with $3.08 billion worth of shipments in Jul-Feb FY21, against the exports of $2.75 billion in the same period of last year, showing an increase of 12% YoY.

According to the Country-wise trade data released by SBP, UK appeared as the second major destination country during the period under review wherein Pakistan exported goods worth $1.3 billion against the exports of $1.14  billion from July to Feb FY20, marking a growth of 15% YoY.

This was followed by China, wherein the total exports to the country during the said period declined by 2% YoY to $1.16 billion from the exports of $1.18 billion recorded in the corresponding period of the previous year.

Next in line is Germany and UAE, Pakistani exports to them pegged at $989.7 million and $944.5 million during 8MFY21 respectively. Exports to Germany depicted a jump of 9% YoY, while exports to UAE dipped by 14% YoY.

Among other countries, Pakistani exports to the Netherlands during 8MFY21 stood at $710.8 million, up by 3% YoY, followed by Afghanistan and Spain with $629.3 million and $512.4 million respectively, the data revealed.

Meanwhile, in the month of February’21 alone, Pakistan exported $402 million worth of goods and services to the USA which was 28% and 1% higher compared to the exports of Feb’20 and Jan’21 respectively. This was followed by UK and China with shipments worth $173 million (up 26% YoY, down 3% MoM) and $133.69 million (up 16% YoY, down 29% MoM) respectively.

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Posted on: 2021-03-25T13:08:00+05:00