Pakistan’s Exports To The US Surge 11.9% In 8MFY21

The tipping point in Pak-US ties - Daily TimesPakistan’s exports of goods and services to the United States of America (USA) witnessed an increase of 11.86% during the first eight months of the fiscal year 2020-21 (FY21) compared to the corresponding period last year.

This was disclosed by the State Bank of Pakistan (SBP) on Thursday.

According to details, overall exports to the US were recorded at $3,082.2 million during the (July-February) period against exports of $2,755.2 million during the corresponding period in FY20.

Meanwhile, on a year-to-year (YoY) basis, exports during February 2021 also increased by 27.68%, from $314.8 million against the exports of $401.949 million.

However, on a month-on-month (MoM) basis, exports rose by 0.5% during February 2021 compared to exports of $399.9 million in January 2021.

Overall, the country’s exports to other countries witnessed a decline of 2.26% in 8MFY21, from $16.438 billion to $16.065 billion.

On the other hand, imports from the US during the period under review were recorded as $1,467.5 million against $1,470.7 million last year, showing a nominal decrease of 0.24% in 7MFY21.

The country’s overall imports increased by 8.59%, from $29.6 billion to $32.1 billion.

Earlier, Pakistan’s exports to the United States surpassed the $400-million mark during October and November 2020.

The US also remained as the top export destination of Pakistani products during the first four months (July-October) of FY21, followed by the United Kingdom (UK) and Germany.

Meanwhile, Pakistan’s exports to regional countries declined 22% in the first eight months of the current fiscal year due to the impact of COVID-19.

Exports to India, Afghanistan, China, Bangladesh, Bhutan, Sri Lanka, Iran, Nepal, and the Maldives fell to $1.171 billion in 8MFY21, from $1.504 billion the previous year.

On the other hand, Pakistan’s trade deficit with the region narrowed slightly during the period under review as imports from these states also dipped.

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  • MEANS NOTHING because

    GDP growth rate in 2019 was 2% Population growth rate 2.2% result everyone became poorer by 0.2%
    GDP growth rate in 2020 was -1,9% Population growth rate 2.1% result everyone became poorer by 4% over the year.
    GDP growth rate in 2021 is projected at 0,5% while population growth rate 2,0%. Means we will again be poorer by 1,5% Ye hai the real figures why we are getting poorer every year… and why prices are out of control. We should be growing at 7% per annum with a 2% population growth will mean 5% net growth in income per year.
    The PTI jokers in government know it but will never tell the people

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