August 23, 2021 (MLN): USA remained as the top export destination for Pakistan with $503million worth of shipments in July 2021, against the exports of $337,28mn in July 2020, showing an increase of 49% YoY.
However, on monthly basis, Pakistan’s exports to the USA plunged by 9% MoM from $555.5mn in June’21.
According to the Country-wise trade data released by SBP, UK appeared as the second major destination country during the month, wherein Pakistan exported goods worth $180mn against the exports of $145.86mn in July’20, marking a growth of 24% YoY. While on monthly basis, the figure was lowered by 4% from $186.9mn.
This was followed by China, wherein the total exports to the country during the said period swelled by 55% YoY to $165.78mn from the exports of $106.77mn recorded in the same month last year. Compared to the previous month, exports to China plummeted by 22% MoM.
Next in line are Germany and UAE, Pakistani exports to them pegged at $129mn and $114.5mn during the month, respectively. Exports to Germany depicted a jump of 12% YoY, while exports to UAE dipped by 3% YoY. On a MoM basis, exports to these countries nosedive by 11% and 25% respectively.
Among other countries, Pakistani exports to the Netherlands (Holland) during July’21 stood at $96.8mn, up by 25% YoY, followed by Italy and Spain with $89.97mn and $70mn respectively, the data revealed.
