11MFY20: US remains Pakistan’s top export destination

The UK was the third top export destination, where Pakistan exported products worth $1,491 million as against the exports of $1,622 million last year, depicting a fall of 8.12%.

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Gwadar Port (CGTN)

The United States of America (USA) prevailed as the top export destination for Pakistani products during the initial 11 months of the financial year 2019-20, followed by The People’s Republic of China (PRC) and the United Kingdom (UK), according to data released by the State Bank of Pakistan (SBP).

Generally, exports to the US during the period under review were recorded at $3,588.819 million, as against the exports of $3,727.390 million during the same period last year, registering a decline of 3.71%.

This was followed by China, where Pakistan exported goods worth $1,535.454 million as compared to exports of $1,701.506 million last year, showing a decrease of 9.75%.

The UK was the third top export destination, where Pakistan exported products worth $1,491 million as against the exports of $1,622 million last year, depicting a fall of 8.12%.

Port Muhammad Bin Qasim

Among other countries, Pakistan’s exports to the United Arab Emirates (UAE) stood at $1,463.276 million (compared to $1,250.515 million last year), while exports to Germany were recorded at $1,191.297 million (compared to $1,210.943 million last year).

Moreover, Pakistan’s exported goods worth $906.558 million to Holland (compared to $886.469 million last year),  $825.663 million to Afghanistan (compared to $1,101.459 million last year), $690.365 million to Italy (compared to $734.932 million last year) and $806.443 million to Spain (compared to $857.290 million last year).

Port of Karachi (Wikipedia)

Likewise, the exports to Bangladesh during the period under review were recorded at $632.888 million (compared to $690.772 million in 11MFY19), France $395.755 million (compared to $412.001 million last year), Singapore $158.866 million (compared to $252.499 million last year), Canada $250.207 million (compared to $265.638 million last year), Kingdom of Saudi Arabia $418.295 million (compared to $305.007 million last year) and India $25.009 million (compared to $307.307 million last year).

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