USA remains key export destination in May’20 despite coronavirus disrupts Pakistan’s exports

By MG News | June 27, 2020 at 05:08 PM GMT+05:00
June 27, 2020 (MLN): The U.S.A remained the top export destination for Pakistan, with $237 million worth of shipments in the month of May, despite a decline of 6% MoM and 33% YoY in exports growth. This contraction in export earnings shows the impact of coronavirus outbreak on demand.
According to the export data released by SBP, USA emerged as a top export market during July-May FY20 with exports reaching $3.588 billion against the exports of $3.727 billion in the same period last year, showing a decrease of 4% YoY, followed by China with $1.535 billion and the UK with $1.491 billion.
In the month of May’20, the other countries which contributed a large proportion to Pakistan Export earnings are China, UK, UAE (Dubai), Germany and Netherlands.
China appeared as the second major destination country in May’20 wherein Pakistan exported goods worth $124 million against the exports of $112 million of April’20, showing a decline of 11% MoM. While on a yearly basis, Pakistani exports to China decreased by 42%.
This was followed by the United Kingdom, wherein Pakistan exported goods worth $105 million, showing a marginal decline of 1% MoM and 34% YoY.
Next in line is UAE (Dubai), Pakistani exports to the UAE pegged at $79 million i.e. 27% MoM and 37% YoY lower than exports of $107 million and $124 billion in April’20 and May’19 respectively.
Among other countries, Pakistani exports to Germany stood at $76 million, depicting a moderate drop of 4% MoM and a significant decline of 40% YoY, followed by the Netherlands with $73 million while the exports to Afghanistan were recorded at $17 million, the data revealed.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 133,628.83 160.57M |
0.19% 258.69 |
ALLSHR | 83,328.45 573.28M |
0.30% 247.29 |
KSE30 | 40,755.71 60.96M |
0.12% 50.40 |
KMI30 | 192,671.95 69.47M |
0.05% 91.27 |
KMIALLSHR | 55,925.51 339.67M |
0.16% 89.80 |
BKTi | 36,506.37 10.00M |
0.52% 189.20 |
OGTi | 28,537.26 7.05M |
-0.02% -5.70 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,705.00 | 108,880.00 107,680.00 |
250.00 0.23% |
BRENT CRUDE | 69.45 | 69.50 69.03 |
-0.13 -0.19% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
2.90 3.07% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.75 106.00 |
0.25 0.24% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 67.70 | 67.97 67.40 |
-0.23 -0.34% |
SUGAR #11 WORLD | 16.25 | 16.46 16.07 |
-0.13 -0.79% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|