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.

What are your views on this? Share with us in the comments below.

  • 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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