Exports to US surge to $3bn in H1FY25

KARACHI: Pakistan’s exports to the United States surged to nearly $3 billion in the first six months of the current fiscal year, reflecting strong growth of 12 per cent, according to official data released by the Trade Development Authority of Pakistan (TDAP). The country exported $2.5 billion worth of goods to the US during July-December 2022-23, which increased to $2.9 billion in the corresponding period of 2023-24.

In contrast, exports to China continued their downward trend, declining by 13 per cent during the review period. Pakistan exported $1.3 billion worth of goods to China, down from $1.5 billion in the same period last fiscal year. Exports to the United Kingdom showed healthy growth, rising by 13 per cent to $1.1 billion in the first half of the current fiscal year, compared to $999 million during the same period last year.

Exports to the European Union (EU) and the Middle East also grew significantly during this period. Key markets such as Germany, the United Arab Emirates (UAE), the Netherlands, Spain, Afghanistan and Italy remained major destinations, with exports to each of these countries surpassing the $500 million mark in the first half of the fiscal year 2025. Exports to Saudi Arabia, Bangladesh, Malaysia, France, Belgium, Sri Lanka, Poland and Canada exceeded $200 million each during the same period.

Overall, Pakistan’s exports grew by 10.52 per cent in the first half of FY2024-25, compared to the corresponding period last year. Total exports during July-December FY25 were recorded at $16.56 billion, up from $14.98 billion in the same period of the previous fiscal year. Textile exports remained the largest contributor, totalling $9.62 billion in the first six months. Within this category, exports of bedlinen, table linen, toilet linen and kitchen linen topped the list, reaching $2.2 billion, up from $1.98 billion in the same period last year.

Agricultural and food exports amounted to $4.1 billion during the review period, with rice exports alone standing at $1.8 billion, an 11 percent increase from $1.6 billion last year. Additionally, Pakistan exported nearly $1.2 billion worth of other manufactured goods.

Regionally, Asia remained the top destination, with exports reaching over $5.9 billion in the first six months of FY25, while exports to Europe totalled $5.7 billion. Exports to the Americas (North and South) stood at $3.4 billion, whereas exports to Africa amounted to $1.13 billion. Exports to Oceania, including Australia and Pacific Island nations, were recorded at $170 million in the first half of the fiscal year.