Pak-US Trade Witnesses Over 51% Growth In 11 Months, SBP Data Shows
Muhammad Irfan Published June 29, 2022 | 01:10 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 29th Jun, 2022 ) :Pakistan's goods and services trade with the United State of America (USA) witnessed surplus of 51.22 percent during eleven months of fiscal year (2021-22) as compared to the corresponding period of last year.
The overall exports to the USA were recorded at $ 6158.171 million during July-May (2021-22) against exports of $4475.232 million during July-May (2020-21), showing growth of 37.60 percent, SBP data revealed.
Meanwhile, on a year-on-year basis, exports to USA during May 2022 also surged by 19.17 percent, from US $ 454.332 million to US $ 541.433 million.
Similarly, month-on-month exports to the USA however decreased by 1.41 percent during May 2022 as compare with exports of US $ 618.214 million in April 2022, the SBP data said.
Overall Pakistan's exports to all countries also witnessed an increase of 26.73 percent in eleven months, from $23.
146 billion to $29.333 billion, the SBP data said.
On the other hand, imports from the US during the period under review were recorded at $2717.185 million against $2199.857 million of last year, showing an increase of 23.51 percent in July-May (2021-22).
Meanwhile, year-on-year imports from the US during May 2022 also increased by 13.28 percent from US $209.294 million last year to US $237.092 million.
On month-on-month basis, the imports from the US however dipped by 6.16 percent during May 2022 as compared to the import of US $252.676 million in April 2022, SBP data said.
The overall imports increased by 34.46 percent, from US $47.970 billion to US $65.461 billion.
The trade surplus during the period under review was recorded at $3440.986 million against $2275.375 million during same period of last year, showing 51.22 percent growth.
/395
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From Business
-
Mired in crisis, Boeing reports another loss
4 hours ago -
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
4 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
4 hours ago -
European stocks lose momentum after global rally
5 hours ago -
New pulses varieties imperative to cater domestic food requirements: Dr Khalid Hasan
6 hours ago -
CEO KP-EZDMC meets CRBC officials
6 hours ago
-
Pakistan among nine poor countries that produces 90 percent cigarettes for world
6 hours ago -
Chief Minister Gilgit Baltistan Haji Gulbar Khan calls on Minister for Privatisation
7 hours ago -
Germany nudges up growth forecast, ailing economy at 'turning point'
7 hours ago -
Revised UAF budget recommended
7 hours ago -
IDEA, TEVTA organizes Job Fair for youth
7 hours ago -
Massive financial, administrative scam unearthed at SCCI
7 hours ago