US, China and UK emerge as top export destinations for Pakistan

April 24, 2020 (MLN): Total export earnings of Pakistan as per Balance of Payment clocked in at $18.25 billion where the USA remained the top export destination of the Pakistani products during Jul-March FY20, followed by China and UK.  

According to the export data released by SBP, the total exports to the USA during 9MFY20 were recorded at $3.09 billion against the exports of $3.02 billion in the same period last year, showing an increase of 2.5% YoY.

China emerged as the second major country wherein Pakistan exported goods worth $1.29 billion against the exports of $971 million last year, showing a meagre decline of 1% YoY.

Next in line is United Kingdom (UK), Pakistani exports to the UK pegged at $1.28 billion i.e. 3% YoY lower than exports of $1.32 billion in Jul-March FY20.

Among other countries, Pakistani exports to Germany increased by 6.5% YoY to stand at $1.03 billion against $971 million during 9MFY20.

The exports to UAE Dubai surged by 27% YoY to $985 million against the previous figure of $775 million whereas the exports to Afghanistan were recorded at $789 million against $885 million last year, depicting a decline of 10% YoY.

During the period under review, the exports to Netherlands (Holland) were up by 9.5% YoY to clock in at $776 million against $708 million whereas the exports to Spain stood at $684 million against $697 million.

Pakistan’s exports to Bangladesh remained flat at $573 million against $571 million.

Copyright Mettis Link News