March 20, 2024 (MLN): The U.S.A. remained the top export destination for Pakistan during February 2024, with $424.5 million worth of shipments, data released by the State Bank of Pakistan showed on Wednesday.
However, this figure was down 10.97% YoY against the exports of $476.8m in the same period last year.
This was followed by China, as Pakistan exported goods worth $169.04m from the country as compared to the exports of $140.17m recorded during the same month of the previous year, depicting a rise of 20.6% YoY.
U. K. was the third on the list as Pakistan generated export revenue worth $164m from the country. This figure was down by 1.26% from the exports of $166.1m in the same period last year.
U. A. E. Dubai was the fourth in line as exports to the region during the aforementioned period were $149.73m, depicting an increase of 36.26% YoY.
Among other countries, Pakistan's exports to the Germany stood at $129.6m, marking a drop of 1.31% YoY, while exports to Netherlands (Holland) increased by 4.38% YoY to $125.81m.
Moreover, the export receipts received from Spain stood at $110.53m, down by 2.52% YoY.
In the month of February alone, the total exports to U.S.A. dropped by 6.9% MoM. Similarly, exports to China dropped by 31.05% MoM.
Moreover, receipts received from exports to U.K. depicted a decline of 4.81% MoM.
Meanwhile, cumulatively, in 8MFY24, U.S.A. was also the top source of export receipts, worth $3.63bn as against the total exports worth $4.05bn in 8MFY23.
Whereas, total exports to China in 8MFY24 stood at $1.9bn, registering an increase of 42.02%.
Cumulatively, U.K. ranked as the third-largest contributor to the country's export earnings, accounting for exports valued at $1.35bn in 8MFY24, compared to $1.33bn in the same period last year
