“HISTORIC”: In first, Pakistan’s exports to the United States cross $5 billion mark

Pakistan's overall exports also rose to $25.3 billion in FY21.

Port of Karachi.

For the first time in history, Pakistan’s exports to the United States (US) crossed $5 billion during the recently-concluded fiscal year (FY21).

This was disclosed by the Advisor to the Prime Minister on Trade & Investment, Abdul Razak Dawood, in a series of posts on Twitter on Monday.

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It is pertinent to note that Pakistan’s overall exports rose to a staggering $25.3 billion in the fiscal year 2020-21 (FY21). This includes $15.5 billion in textile and $2 billion in IT services.

“We are pleased to inform (you) that our exports to the US during FY 2021 increased by 39% to $5.2 billion compared to $3.7 billion during FY 2020, increasing around $1.45 billion,” Abdul Razak Dawood revealed in a tweet.

“This is the first time in our history that our exports to the US have crossed the $5 billion mark.”

The Advisor appreciated the exporters’ efforts from the country and trade and investment officers (TIOs) in the US to make this historic export count possible.

He also urged the TIOs to provide all feasible facilitation to Pakistani exporters to boost exports further.

Plans for FY22

Speaking to media persons, Dawood notified that Pakistan is pursuing a ‘high-target, high-achievement approach’ for the current fiscal year (FY22), setting a $35-billion export target.

Likewise, breakthroughs of $28 billion for goods and $7 billion for services for the current fiscal year 2021-22 have been set.

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