ISLAMABAD - Pakistan’s goods and services trade with the United States (US) witnessed a surplus of 23.31 per cent during the first quarter of the current fiscal year (2022-23) as compared to the corresponding period of last year. Trade surplus during the period under review was recorded at $1079.589 million against $875.469 million last year, showing 23.31 per cent growth. The overall exports to the US were recorded at $1657.359 million during July-September this year against exports of $1565.321 million during the same quarter last year, showing an increase of 5.87 per cent, SBP data revealed. Meanwhile, on year-on-year basis, exports to the US during September however decreased by 3.49 per cent, from $553.839 million to $534.477 million. Similarly, month-on-month exports to the US also dipped by 14.23 per cent during September 2022 as compared with exports of $623.196 million in August 2022, the SBP data said. Overall, Pakistan’s exports to all countries witnessed an increase of 5.45 per cent in three months, from $7201.057 million to $7594.042 million, the SBP data said. On the other hand, imports from the US during the quarter under review were recorded at $577.770 million against $689.762 million of last year, showing a decrease of 16.23 per cent in July-September (2022-23). Meanwhile, year-on-year imports from the US during September 2022 also dipped by 21.40pc from $258.135m last year to $202.886m.

On month-on-month basis, the imports from the US decreased by 03 per cent during September 2022 as compared to the import of $209.178 million in August 2022, SBP data said. The overall imports decreased by 7.91 per cent, from $17394.970 million to $16018.061 million during the period under review.