US remains top export destination of Pakistani products: SBP

ISLAMABAD: 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.