Azeem A Khan

The United States continued to be Pakistani exports' top destination, followed by China and the United Kingdom during the first five months of the current fiscal year. According to the State Bank of Pakistan (SBP), total exports to the US from July through November of 2022–23 totalled $2,604.966 million, a decrease of 2.88% from $2,682.332 million during the same period in 2021–22.

Pakistani exports to China decreased by 13.66% to $877.444 million from $1,016.380 million the previous year. The third-highest export destination for Pakistan was the UK, where the country shipped items worth $846.999 million during the months under review compared to $944.335 million during the same period the previous year, a fall of 10.30%.

Among other countries, Pakistani exports to Germany increased from $691.247 million to $744.938 million, while exports to the United Arab Emirates decreased from $691.247 million to $614.916 million. The exports to Holland during the July–November 2022–23 period were $622.999 million versus $544.654 million, while the exports to Afghanistan were $213.282 million versus $207.407 million. Pakistan's exports to Italy increased to $491.636 million from $407.750 million last year, while exports to Spain increased to $568.560 million from $410.094 million. Whereas, the exports to Bangladesh stood at $365.290 million against $316.680 million.

Similar to this, during the reviewed months, exports to France were recorded at $252.691 million, compared to $210.421 million, while exports to Saudi Arabia were at $184.017 million, compared to $163.931 million. Pakistan's exports to Turkey increased from $127.513 million to $139.825 million this year, while exports to Canada were $201.717 million compared to $159.586 million and exports to Australia were $127.583 million compared to $113.894 million last year.

Credit : Independent News Pakistan-WealthPk