USA Was The Top Export Destination of Pakistan in July-Aug FY19-20

September 25, 2019 Off By Web Desk

The United States of America (USA), which is the world’s biggest economy, remained the top export destinations of the Pakistani products during the first two months (July-August) of the current financial year (2019-20), followed by China and United Kingdom (UK).

According to the latest data issued by State Bank of Pakistan (SBP), total exports to the USA during July-August (2019-20) were recorded at $714.570 million compared to $689.963 million during the same period last year, showing an increase of 3.56%.

This was followed by China which was the second major export destination, where Pakistan exported goods worth $293.431 million against exports of $290.668 million last year, showing a growth of 0.95 percent.

The UK was the third biggest export destination, where Pakistan exported products worth $285.943 million during the current financial year against exports of $301.184 million during last fiscal year, showing a decrease of 5.06 percent.

Among the other countries, Pakistani exports to United Arab Emirates (UAE) amounted to $272.572 million against $239.644 million during last year, showing an increase of 13.74 percent while exports to Germany were recorded at $220.766 million compared to $233.935 million last year, the data revealed.

Exports to Afghanistan declined to $166.515 million from $240.475 million whereas the exports to Spain increased to $156.303 million from $144.756 million.

Pakistan’s exports to Bangladesh were recorded at $123.322 million versus $106.337 million last year, whereas exports to Italy stood at $131.856 million compared to $133.984 million. Similarly, exports to Belgium during the current financial year were recorded at $94.571 million against $101.911 million while exports to France stood at $73.949 million against $80.033 million.

However, Pakistan’s exports to India were recorded at $8.033 million during the current financial year compared to $76.830 million last year, as tensions between the two neighboring countries are high.

Exports to Singapore stood at $45.961 million against $34.437 million, with exports to Indonesia decreasing to $11.409 million compared to $90.445 million. Exports to Japan stood at $36.809 million during the financial year compared to $35.087 million during last year.

Source: Pro Pakistani