Pakistan’s exports to US decrease by 10pc in 8 months

Overall Pakistan’s exports to other countries witness an increase of 10.15 percent

ISLAMABAD   -  Pakistan’s export of goods and services to the United States (US) witnessed a decrease of 10.38 percent during the first eight months of the current fiscal year (2023-24) as com­pared to the exports of the cor­responding period of last year, the State Bank of Pakistan (SBP) reported. The overall ex­ports to US were recorded at $3,626.141 million during Ju­ly-February (2023-24) against exports of $4,046.337 million during July-February (2022-23), the SBP data revealed. On a year-to-year basis, exports to US came down by 10.97 percent from $476.804 mil­lion in February 2023, against the exports of $424.497 mil­lion in February 2024.

Meanwhile, on a month-on-month basis, the exports to US also decreased by 6.89 percent during February 2024 as compared to the exports of $455.944 million in January 2024, the SBP data revealed. Overall Pakistan’s exports to other countries witnessed an increase of 10.15 percent in the first five months, from $18.643 billion to $20.537 bil­lion, the SBP data revealed.

On the other hand, the im­ports from US into the coun­try during the months un­der review were recorded at $1,191.518 million against $1,437.237 million last year, showing a decline of 17.09 per­cent in July-February (2023-24). On a year-on-year basis, the imports for US witnessed a decrease of 10.70 percent from $175.873 million in February 2023, against the imports of $157.042 million in February 2024. On a month-on-month basis, the imports from US into the country witnessed an in­crease of 12.34 percent during February 2024, as compared to the imports of $139.783 million during January 2024, according to the data. The overall imports into the country witnessed a decrease of 8.76 percent, from $37.354 billion to $34.079 bil­lion, according to the data.

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