Pakistan’s shipments to USA surge by 10% to USD 2.68bln in Jul-Jan FY21

February 26, 2021 (MLN): USA remained as the top export destination for Pakistan with $2.68 billion worth of shipments in Jul-Jan FY21, against the exports of $2.44 billion in the same period of last year, showing an increase of 10% 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 $1.135 billion against the exports of $1  billion in July-Jan FY20, marking a growth of 13% YoY.

This was followed by China, wherein the total exports to the country during the said period declined by 3% YoY to $1.02 billion from the exports of $1.06 billion recorded in the corresponding period of the previous year.

Next in line is Germany and UAE, Pakistani exports to them pegged at $873.24 million and $823.54 million during 7MFY21 respectively. Exports to Germany depicted a jump of 9% YoY, while exports to UAE dipped by 16% YoY.

Among other countries, Pakistani exports to the Netherlands during 7MFY21 stood at $617.9 million, up by 3% YoY, followed by Afghanistan and Spain with $543.6 million and $439.28 million respectively, the data revealed.

Meanwhile, in the month of January’21 alone, Pakistan exported $399.9 million worth of goods and services to the USA which was 9% higher compared to the exports of Jan’20 while 6% lower compared to Dec’20. This was followed by China and UK with shipments worth of $189 million (up 49% YoY, down 15% MoM) and $182.63 million (up 27% YoY, down 9% MoM) respectively.

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Posted on: 2021-02-26T12:28:00+05:00