ISLAMABAD: During the first eight months of the financial year 2023-24, the United States (US) retained its position as the primary export destination for Pakistani products, followed by China and the UK.
According to data from the State Bank of Pakistan (SBP), exports to the US totaled US $3,626.141 million from July to February 2023-24, marking a 10.38 percent decline compared to US $4,046.337 million in the same period last year.
China emerged as the second-largest export destination, with Pakistani goods valued at US $1,895.720 million, showcasing a significant increase of 42.02 percent from the previous year’s US $1,334.804 million.
The UK secured the third spot, with exports amounting to US $1,351.008 million, slightly up from US $1,329.990 million in the corresponding period last year.
Notable increases were also observed in exports to other countries. For instance, exports to the UAE rose to US $1,337.487 million, up from US $945.280 million, indicating a 41.49 percent increase. Similarly, exports to Germany were recorded at US $983.798 million compared to US $1,141.819 million in the previous year.
Exports to Holland reached US $907.791 million, down from US $983.417 million, while exports to Italy amounted to US $733.792 million, slightly lower than US $759.361 million.
Additionally, exports to Spain were valued at US $966.955 million, up from US $923.853 million, and exports to Afghanistan totaled US $319.887 million, down from US $346.522 million.
Exports to Bangladesh stood at US $421.939 million compared to US $525.017 million, while exports to France amounted to US $336.790 million, down from US $393.592 million. Likewise, exports to Belgium were recorded at US $363.911 million, lower than US $469.830 million.
Pakistan’s exports to Saudi Arabia amounted to US $442.822 million, up from US $300.613 million, and exports to Turkey reached US $233.112 million, compared to US $207.245 million in the previous year.
—APP
