Pakistan’s Exports To US Decrease By 10% In 8 Months

Umer Jamshaid Published March 27, 2024 | 06:49 PM

Pakistan’s export of goods and services to the United States (US) witnessed a decrease of 10.38 per cent during the first eight 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

ISLAMABAD, (UrduPoint / Pakistan Point News - 27th Mar, 2024) Pakistan’s export of goods and services to the United States (US) witnessed a decrease of 10.38 per cent during the first eight 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 US were recorded at US $3,626.141 million during July-February (2023-24) against exports of US $4,046.337 million during July-February (2022-23), SBP data revealed.

On a year-to-year basis, the exports to US came down by 10.97 per cent 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 per cent 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 per cent in the first five months, from US $18.643 billion to US $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 US $1,191.518 million against US $1,437.237 million last year, showing a decline of 17.09 per cent in July-February (2023-24).

On a year-on-year basis, the imports for US witnessed a decrease of 10.70 per cent from US $175.873 million in February 2023, against the imports of US $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 per cent during February 2024, as compared to the imports of US $139.783 million during January 2024, according to the data.

The overall imports into the country witnessed a decrease of 8.76 per cent, from $37.354 billion to US $34.079 billion, according to the data.