USA remains top importer of Pakistani products

September 28, 2020 (MLN): Though Pakistan’s exports to USA has declined by 1% MoM and 2% YoY during the month of August 2020, the country has emerged as the top export destination for Pakistan with $334.54 million worth of shipments against the exports of $337.2 million in the preceding month and $341 million in August’19.

UK appeared as the second major destination country during the month under review wherein Pakistan exported goods worth $129.17 million against the exports of $145.84 million in the previous month and $137.56 million reported in the same month last year, marking a decline of 11% MoM and 6% YoY, followed by the UK with $1.63 billion.

This was followed by Germany, wherein the total exports to the country during the said month were recorded at $111.79 million against the exports of $115.14 million in July’20, showing a contraction of 3% MoM. On a yearly basis, exports to Germany jumped by 7% as it stood at $104.7 million in August 2019.

Next in line is Chine and UAE, Pakistani exports to them pegged at $93.6 million and $93.2 million in Aug’20 respectively. Exports to China depicted a decline of 12% MoM and 26% YoY, whereas, exports to UAE in Aug’20 dropped by 22% MoM and 7% YoY.

 Among other countries, Pakistani exports to Holland stood at $66.95 million, down by 13% MoM and 23% YoY, followed by the Afghanistan and Italy with $60.9 million and 48.54 million respectively, the data revealed.

Copyright Mettis Link News