Exports to US surge 9.82pc in 7 months

ISLAMABAD: Pakistan's exports of goods and services to United State of America (USA) witnessed a surge of 9.82 percent during the seven months of financial year (2020-21) compared to the corresponding period last year.

The overall exports to USA were recorded as US $ 2680.250 million during July-January (2020-21) against exports of US $ 2440.386 million during July-January (2019-20), showing growth of 9.82 percent, State Bank of Pakistan (SBP) data revealed.

Meanwhile, on year-to-year basis, exports to USA during January 2021 also increased by 9.17 percent, from US $ 366.306 million against the exports of US $399.931 million.

However, month-on-month basis, exports of USA were decreased by 5.84 percent during January 2021 in comparison with exports of US $ 424.754 million in December 2020, SBP data said.

Overall Pakistan's exports to other countries witnessed decline of 3.80 percent in seven months, from US $ 14.445 billion to US $ 13.896 billion.

On the other hand, the imports from USA into the country during the period under review were recorded as US $ 1230.525 million against US $ 1223.338 million last year, showing nominal increase of 0.58 percent in seven months of this year.

Meanwhile, year-to-year basis, imports from USA during January 2021 decreased by 4.06 percent from US $245.808 million last year to US $235.810 million.

On month-on-month basis, the import from USA however increased by 21.47 percent during January 2021 when compared to the import of US $194.127 million in December 2020, SBP data said. The overall imports into the country increased by 6.12 percent, from US $26.044 billion to US $ 27.639 billion.