Pakistan's exports to UK increased by 30 percent

November 24, 2020: Pakistan exports to the United Kingdom (UK), during the month of October 2020, registered at US $ 200 million as compared to US $ 154 million realized in the corresponding month of last year showing an increase of 30 percent.

According to Economic Trade and Investment Wing of Pakistan High Commission London, Pakistan imports from the UK in October 2020 stood at US $ 48 million compared to the imports of US $ 62 million in the corresponding month of last fiscal year showing a negative growth of (-23 percent).

The officials further said that total trade volume between Pakistan and the UK during October 2020 stood at US $ 248 million compared to US $ 216 million achieved the same month of October 2019 depicting an increase of 15 percent.

Similarly, the balance of trade between the two countries during the month of October 2020 registered at US $ 152 million compared to US $ 92 million in the same period of 2019 indicating an increase of 65 percent.

They added that all major export categories during the month of October registered remarkable increase in the UK markets despite COVID-19 pandemic and suppressed demand and reduced global imports.

The chapters, they said, which registered increased included Home textile (27 percent), Apprael non-nitted or crotched (16 percent) and Articles of apprael, accessories, knit or crochet (26 percent).

Other chapters which have shown increase were Cereals (55 percent), Beverages, spirits and vinegar (100 percent), Vegetables, fruits, nuts etc, food preparations (55 percent) etc.

They said that chapters where Pakistan's exports registered decline during the month of October 2020 were Articles of leather (19 percent), Toys, games, sports requisites (4 percent) and Edible, fruit, nuts, peel of citrus fruits, and melons (48 percent).

They said that imports into Pakistan from the UK recorded considerable decline 0f 23 percent which helped Pakistan further improve its trade balance with the UK by 65 percent.

Pakistan’s Exports to the United Kingdom (UK) during the July-September 2020-21, despite COVID-19 stood at US $ 465 million as compared to US $ 414 million achieved same period of the last fiscal year, depicting an increase of 12 percent.

Pakistan imports to the UK during the period July-September 2020-21 also registered US $ 152 million as compared to US $ of 168 million achieved in the corresponding period of last fiscal year registering a decrease of Minus (-10) percent.

Similarly, the bilateral trade volume during July-Sept 2020-21 registered at US $ 617 million as compared to US $ 582 million achieved in the same period of last fiscal, depicting an increase of 6 percent.

Similarly, the balance of trade during July-Sept 2020-21 was US $ 313 million compared to US $ 246 million in the same period of previous fiscal showing and increase of 27 percent.

APP