Pakistan’s exports to UK up by 2.31pc in 10 months

ISLAMABAD  -   Pakistan’s export of goods and services to the United Kingdom (UK) witnessed an increase of 2.31 percent during the first ten months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported. The overall exports to the UK were recorded at $1.683 billion during July-April (2023-24) against exports of $1.645 billion during July-April (2022-23), SBP data revealed. On a year-to-year basis, the exports to the UK also surged to $154.613 million in April 2024 against the export of $151.111 million in April 2023.

Meanwhile, on a month-on-month basis, the exports to the UK decreased by 13.39 percent during April 2024 as compared to the exports of $178.517 million in March 2024, the SBP data revealed. Overall Pakistan’s exports to other countries witnessed an increase of 10.64 percent in the first ten months, rising from $23.199 billion to $25.669 billion, the SBP data revealed. On the other hand, the imports from the UK into the country during the months under review were recorded at $695.909 million against $512.171 million last year, showing an increase of 35.87 percent in July-April (2023-24). On a year-on-year basis, the imports for the UK also increased to $43.003 million in April 2024, against the export of $31.875 million in April 2023.

On a month-on-month basis, the imports from the UK into the country witnessed a nominal decrease of 2.21 percent during April 2024, as compared to the imports of $43.976 million during March 2024, according to the data.

The overall imports into the country witnessed a decrease of 5.27 per cent, declining from $45.766 billion to $43.353 billion, according to the data.

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