USA, China & UK top three destinations of Pakistani exports: SBP

The State Bank of Pakistan (SBP) has said that during first eight months of current financial year (2019-20), the United States of America (USA) remained the top export destination of the Pakistani products followed by China and United Kingdom (UK).

The SBP on Tuesday said that total exports to the USA during July-February (2019-20) were recorded at US $ 2755.213 million against the exports of US $ 2687.053 million during July-February (2018-19), showing an increase of 2.53 percent during the period under review.

This was followed by China, wherein Pakistan exported goods worth $ 1179.304 million against the exports of $1156.774 million last year, showing nominal increase of 1.94 percent.

UK was the at third top export destination, where Pakistan exported products worth US $ 1141.808 million during the current financial year against the exports of US $ 1172.866 million during last fiscal year, showing a decrease of 2.64 percent, SBP data revealed.

Among other countries, Pakistani exports to United Arab Emirates (UAE) stood at US $ 1100.851 million against $ 855.643 million during last year, showing increase of 28.65 percent while the exports to Germany were recorded at US $ 909.754 million against US $ 871.801 million last year, the data revealed.

During the first eight months, the exports to Afghanistan were recorded at US $ 728.315 million against US $ 777.153 million whereas the exports to Holland stood at US $ 687.618 million against US $ 626.855 million.

Pakistan’s exports to Spain were recorded at US $ 606.391 million against US $ 617.160 million last year whereas the exports to Italy stood at US $ 524.612 million against US $ 508.363 million.

Similarly, the exports to Bangladesh during the current financial year were recorded at US $ 512.089 million against US $ 510.413 million while the exports to France stood at US$ 294.119 million against US $ 303.968 million.

Pakistan’s exports to Singapore were recorded at US $ 139.487 million during the current financial year compared to US $ 190.641 million last year whereas, the exports to Canada stood at US $ 188.811 million against US $195.322 million, to Saudi Arabia US $ 317.509 million against US $ 210.854 million whereas the exports to India stood at US $ 19.738 million during the financial year against US $ 273.857 million during last year.