USA remains largest export destination for Pakistan during July

August 18, 2023 (MLN): USA remained the top export destination for Pakistan with $432.8 million worth of shipments in July against the exports of $499.69 million recorded in the corresponding period of last year, registering a decrease of 13.34% YoY, the latest data released by State Bank of Pakistan showed.

In terms of volume, the UK appeared as the second major destination country during the month, wherein Pakistan exported goods worth $169.79m to the Emirates as compared to the exports of $160.11m recorded during the same month of the previous year, depicting a decline of 6.04% YoY.

This was followed by China, wherein the total exports to the country during the said period clocked in at $147.38m from the exports of $174.06m recorded in the same period last year, depicting a fall of 15.32% YoY.

Next in line are UAE (Dubai) and Germany wherein Pakistan received export earnings of $124.76m and $121.18m during the month, respectively.

In the month of July alone, the total exports to the U.S.A. dropped by 3.31% MoM. While, exports to the U.K. increased by 6.06% MoM.

Moreover, export receipts from China depicted an increase of 7.48% MoM.

Copyright Mettis Link News