USA remains Pakistan’s top export destination in July’20

August 26, 2020 (MLN): The U.S.A has retained its position as the top export destination for Pakistan during the first month FY21, followed by United Kingdom (UK) and United Arab Emirates (UAE)

According to the data from the State Bank of Pakistan (SBP), Pakistan exported $336 million worth of shipments against the exports of $373 million in FY20, showing a decrease of 10% year-on-year.

The UK appeared the second major destination country in July’20, contributing $145 million to Pakistan Export earnings, seeing a marginal decline of 1% YoY against the exports of $147 of July’19.

The third major destination country in July’20 is United Arab Emirates wherein Pakistani exports to UAE decreased by 32% YoY to stand at $118 million.

Next in line is Germany, Pakistani exports to Germany pegged at $115 million in July’20, showing a meagre decline of 1% YoY as compared to exports of $116 million in July’19.

It was worth highlighting that the exports to China contracted by 37% YoY to $105 million. this is the highest decline in percentage by countries in July’20.  

During July’20, among other countries, Pakistani exports to the Netherlands stood at $77 million, down by 10% YoY, followed by Afghanistan with $61 million. The exports to Italy were recorded at $54 million, the data revealed.

Copyright Mettis Link News