While the Prime Minister is on a state visit to the US, it’s a good time to analyze our Trade position viz a viz Pakistan’s export markets.
The United States continues to be the top export destination for Pakistani products during Fiscal Year 2019. China and the UK come at no.2 and no.3 positions respectively.
According to latest figures released by the State Bank of Pakistan (SBP) for FY 19, total exports to the United States during FY 19 were recorded at $4 bn against the exports of $3.8 bn in FY 18, registering a 4% growth during the period.
Similarly, Pakistan Pakistan’s exports to China worth $1.85 bn against the exports of $1.75 bn last year registered 5.6% growth.
Pakistan exported products worth $1.75 bn to the UK in FY19 against the exports of $1.77 bn last year, marking a 1.1 % decline.
Pakistan’s exports to other countries:
Among other countries, Pakistani exports to UAE stood at $1.37 bn against $1.38 bn of exports last year, while the exports to Germany were recorded at $1.3 bn against $1.36 bn last year, both depicting a decline of 4 %.
The exports to Afghanistan declined by 20. 4 % to $1.2 bn against $1.5 bn last year, whereas the exports to Netherlands were recorded at $946.7 mn against $779.4 mn last year, showing an increase of 21 %.
Pakistan’s exports to Bangladesh were recorded at $742.9 mn against $727.2 mn last year, showing a slight increase of 2 %.
Pakistan’s exports to Italy during the period under review were recorded at $804.9 mn against $769 mn last year, depicting an increase of 4.5 percent.
Export of Pakistani goods to Saudi Arabia stood at $ 327.8 mn against $317.5 mn, while the exports to India during the period under review declined by 25 % to $312 mn against $419.7 mn in FY18.