Pakistan’s Exports to the UK Grow by 2.31% in 10 Months
Published on: June 9, 2024.
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Pakistan’s Export to the UK Sees 2.31% Increase in Fiscal Year 2023-24
Pakistan’s export of goods and services to the United Kingdom (UK) has seen a positive growth of 2.31% during the first ten months of the current fiscal year (2023-24) compared to the same period last year, according to the State Bank of Pakistan (SBP) report.
The SBP data reveals that Pakistan’s overall exports to the UK reached a value of US $1.683 billion from July to April (2023-24), compared to US $1.645 billion during the same period of the previous fiscal year (2022-23).
In April 2024, exports to the UK amounted to $154.613 million, showing an increase from $151.111 million in April 2023. However, on a month-on-month basis, the exports to the UK decreased by 13.39% in April 2024 when compared to March 2024, where the exports stood at $178.517 million.
Pakistan’s exports to other countries as a whole also witnessed an upward trend, with an increase of 10.64% in the first ten months, reaching a value of US $25.669 billion from July to April (2023-24), as compared to US $23.199 billion in the same period of the previous fiscal year.
On the other hand, imports from the UK into Pakistan during the review months were recorded at US $695.909 million, showing a significant increase of 35.87% in July-April (2023-24) compared to the imports of US $512.171 million last year. In April 2024, imports from the UK stood at US $43.003 million, showing a rise from US $31.875 million in April 2023.
However, on a month-on-month basis, there was a nominal decrease of 2.21% in imports from the UK during April 2024, where it reached US $43.976 million compared to US $43.353 million in March 2024, according to the data.
Overall, the imports into Pakistan experienced a decrease of 5.27%, from US $45.766 billion to US $43.353 billion, according to the data.
Source: [UrduPoint](https://www.urdupoint.com)
