USA remains Pakistan's top export destination, shipments surge by 10% MoM

November 24, 2020 (MLN): USA remained as the top export destination for Pakistan with $413.3 million worth of shipments in October 2020, against the exports of $375.9 million in the preceding month and $374.75 million in October’19, showing an increase of 10% both on MoM and YoY basis.

According to the Country-wise trade data released by SBP, UK appeared as the second major destination country during the month under review wherein Pakistan exported goods worth $174.8 million against the exports of $153.7 million in the previous month and $154.26 million reported in the same month last year, marking a growth of 14% MoM and 13% YoY.

This was followed by China, wherein the total exports to the country during the said month were recorded at $132.84 million against the exports of $128.96 million in Sep’20, showing a jump of 3% MoM. On a yearly basis, exports to China plunged by 10% as it stood at $147.4 million in October 2019.

Next in line is UAE and Germany, Pakistani exports to them pegged at $126.47 million and $126.2 million in Oct’20 respectively. Exports to UAE depicted a decline of 12% YoY and an increase of 14% MoM, whereas, exports to Germany during the month dropped by 10% MoM and grew by 3% YoY.

 Among other countries, Pakistani exports to Afghanistan stood at $86.59 million, down by 9% YoY while rose by 1% MoM, followed by the Afghanistan and Italy with $83.7 million and $62.3 million respectively, the data revealed.

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