USA continues its domination as Pakistan's top export destination in April

May 17, 2024 (MLN): The U. S. A. remained the top export destination for Pakistan during April FY24, with $451.24 million worth of shipments, down by 2.5% YoY against the exports of $462.93m in same period last year.

According to the data released by the State Bank of Pakistan, this was followed by China, as Pakistan exported goods worth $199.35m to the country as compared to the exports of $175.54m recorded during the same month of the previous year, depicting a rise of 13.6% YoY.

U. K. was the third on the list as Pakistan generated export revenue worth $154.61m from the country. This figure was up by 2.3% from the exports of $151.11m in the same period last year.

U. A. E. Dubai was the fourth in line as exports to the region during the aforementioned period were $128.42m, depicting an increase of 15.3% YoY.

Among other countries, Pakistan's exports to the Netherlands (Holland) stood at $119.15m, marking a rise of 11.2% YoY, while exports to Germany increased by 12.8% YoY to $115.19m.

Moreover, the export receipts received from Spain stood at $114.52m, up by 3.8% YoY.

While on a sequential basis, the total exports to U. S. A. increased by 7.1% MoM. While exports to China dropped by 19% MoM.

Moreover, receipts received from exports to U. K. depicted a decline of 13.4% MoM.

Meanwhile, cumulatively, in 10MFY24, U. S. A. was the top source of export receipts, worth $4.5bn as against the total exports worth $4.99bn in 10MFY23.

Whereas, total exports to China in 10MFY24 stood at $2.34bn, registering an increase of 37.7%.

Cumulatively, U. K. ranked as the third-largest contributor to the country's export earnings, accounting for exports valued at $1.68bn in 10MFY24, compared to $1.65bn in the saem period last year

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