US remains top export destination of Pakistani products, says SBP

The United States of America (USA) remained the top export destination of Pakistani products during first five months of current financial year ( 2019- 20), followed by the United Kingdom ( UK) and China, data from the State Bank of Pakistan revealed on Wednesday.

The total exports to the USA during July- November ( 2019- 20) were recorded at $ 1744.415 million against the exports of $ 1698.809 million during July- November ( 2018- 19), showing an increase of 2.68 percent during the period under review, according to the SBP.

This was followed by the UK, wherein Pakistan exported goods worth $728.120 million against the exports of $753.054 million last year, showing decrease of 3.31 percent.

China was the at third top export destination, where Pakistan exported products worth $ 727.480 million during the current financial year against the exports of $ 741.643 million during last fiscal year, showing nominal decrease of 1.90 percent, the SBP data revealed.

Among other countries, Pakistani exports to United Arab Emirates ( UAE) stood at $ 663.883 million against $ 538.786 million during last year, showing increase of 23.21 percent while the exports to Germany were recorded at $ 533.048 million against $ 549.071 million last year, the data revealed.

During the first five months of financial year, the exports to Afghanistan were recorded at $ 432.465 million against $ 460.461 million whereas the exports to Span stood at $ 380.249 million against $ 379.083 million.

Pakistan’s exports

to

Italy were recorded at $ 324.971 million against $ 322.660 million last year, whereas, the exports to Bangladesh stood at $ 297.676 million against $ 314.108 million.

Similarly, the exports to Belgium during the current financial year were recorded at $ 226.668 million against $ 252.240 million, while the exports to France stood at $ 188.902 million against $ 192.340 million.

Pakistan’s exports to Singapore were recorded at $ 109.006 million during the current financial year compared to $ 119.586 million last year, while the exports to Japan stood at $ 84.113 million against $ 91.932 million, to Indonesia $ 32.412 million against $ 138.031 million.

Meanwhile, the exports to India stood at $ 15.518 million during the financial year against $ 182.207 million during the last year.