Thursday September 21, 2023

US, EU countries top importers of Pakistani goods in February

March 08, 2022

KARACHI: United States of America, United Kingdom, Spain, Germany, Netherlands, and Italy remained top importers of Pakistani goods in the month of February, the Ministry of Commerce data showed on Monday.

Pakistan’s exports to US and European nations grew in February, when Pakistan’s relations with US and European nations ran into trouble after Islamabad’s neutral stance on Russia-Ukraine conflict.

Exporters however pointed out that February’s exports to these countries were based on the orders received some five to six months ago. About the future prospects of Pakistan’s exports to US and European countries in the current situation, exporters do not see any threat from these nations.

“Why should Pakistani exports suffer when Pakistan didn’t side with any one camp in the Russia-Ukraine conflict,” Khurram Mukhtar, Patron-in-Chief of Pakistan Textile Exporters Association (PTEA) said, adding that Pakistan was not the only country to hold a neutral stance on the issue.

According to the figures of the Ministry of Commerce, Pakistani exports to US grew 25 percent to $473 million in February this fiscal compared to $379 million in the same month last fiscal. This was followed by United Arab Emirates, where Pakistan exported $164 million worth of goods against $75 million exported in the same month last year, showing 118 percent growth.

Exports jumped to $182 million in the month under review against $94 million in the same month of last fiscal, registering 94 percent growth. Germany imported $179 million worth of goods in February this fiscal against $112 million in the previous year, posting 60 percent growth.

Exports to Italy grew 102 percent to $123 million, compared to $61 million last fiscal, whereas exports to Spain increased 90 percent to $121 million from $64 million in the same month last fiscal.

In the month under review, exports to UK increased 27 percent to $199 million compared to $156 million in the previous year’s February. Similarly, exports to China climbed up 17 percent to $284 million against $243 million; Bangladesh rose 62 percent to $80 million compared to $50 million, and exports to Turkey increased 157 percent to $43 million against $16 million in February of last fiscal.

About the reasons behind growth of exports, Khurram said that Pakistan was competitive and did not face supply chain disruptions. Its track record concerning delivery security has been excellent when compared to regional countries.