USA leads as top export destination for Pakistan in November

December 18, 2023 (MLN): The U. S. A. remained the top export destination for Pakistan during November FY24, with $435.14 million worth of shipments, down by 7.89% YoY against the exports of $472.4m in the 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 $271.32m from the country as compared to the exports of $199.06m recorded during the same month of the previous year, depicting a rise of 36.3% YoY.

U. K. was the third on the list as Pakistan generated export revenue worth $172.94m from the country. This figure was up by 7.15% from the exports of $161.4m 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 $134.02m, depicting an increase of 24.23% YoY.

Among other countries, Pakistan's exports to Germany stood at $125.11m, marking a drop of 10.29% YoY, while exports to Spain increased by 3.32% YoY to $122.27m.

Moreover, the export receipts received from the Netherlands (Holland) stood at $111.93m, down by 6.17% YoY.

In the month of November alone, the total exports to U. S. A. dropped by 10.31% MoM. Similarly, exports to China dropped by 14.91% MoM.

Moreover, receipts received from exports to U. K. depicted an increase of 1.35% MoM.

Meanwhile, cumulatively, in 5MFY24, U. S. A. was the top source of export receipts, worth $2.3bn as against the total exports worth $2.61bn in 5MFY23.

Whereas, total exports to China in 5MFY24 stood at $1.22bn, registering an increase of 39.44%.

Cumulatively, U. K. ranked as the third-largest contributor to the country's export earnings, accounting for exports valued at $862.4m in 5MFY24, compared to $847.07m in 5MFY23

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