Business & Finance: USA, UK and Germany top destinations of exports in 4 months

ISLAMABAD: United States of America (USA) remained the top export destinations of the Pakistani products during the first four months of financial year (2020-21), followed by United Kingdom (UK) and Germany. Total exports to the USA during July-October (2020-21) were recorded at US $ 1461.063 million against the exports of US $ 1428.525 million during July-October (2019-20), showing growth of 2.27 percent, according to State Bank of Pakistan (SBP).

This was followed by UK, wherein Pakistan exported goods worth US $ 602.367 million against the exports of US $ 580.674 million last year, showing increase of 3.73 percent. Germany was the at third top export destination, where Pakistan exported products worth US $ 493.735 million during the months under review against the exports of US $445.968 million during last year, showing growth of 10.71 percent, SBP data revealed.

Among other countries, Pakistani exports to China stood at US $ 462.268 million against US $586.363 million during last year, showing decrease of 21.16 percent while the exports UAE to were recorded at US $ 449.642 million against US $ 534.027 million last year, the data revealed.

During July-October (2020-21), the exports to Holland were recorded at US $313.048 million against US $ 344.662 million whereas the exports to Afghanistan stood at US $ 269.463 million against US $ 339.033 million.

Pakistan's exports to Italy were recorded at 230.179 million against the exports of US $ 266.939 million while the exports to Spain were recorded at US $ 219.990 million against US $ 311.168 million last year.

The exports to Bangladesh stood at US $ 169.715 million against US $ 248.377 million. Similarly, the exports to France during the months under review were recorded at US $ 137.575 million against US $ 152.384 million while the exports to Saudi Arabia stood at US $ 142.579 million against US $ 165.459 million. Pakistan's exports to Turkey were recorded at US $ 80.536 million during the current year compared to US $ 101.167 million last year whereas the exports to Canada stood at US $ 90.032 million against US $ 93.540 million, to Poland US $ 88.742 million against US $ 89.023 million whereas the exports to Australia stood at US $ 77.237 million during the current year against US $ 66.712 million during last year.

Overall Pakistan's exports to other countries witnessed decline of 10.32 percent in first four months, from US $ 8.173 billion to US $ 7.332 billion, the SBP data revealed.

Copyright Business Recorder, 2020