Pakistan continues to export to the United States as its primary destination
Published on: November 1, 2023.
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Pakistan’s Top Export Destinations in Q1 2023-24
During the first quarter of the current fiscal year 2023-24, the United States (US), China, and the United Kingdom (UK) remained the leading export destinations for Pakistani products, according to data from the State Bank of Pakistan (SBP).
Exports to the United States
From July to September 2023, Pakistan’s exports to the US reached $1,376.125 million. Although there was a 17.04% decrease compared to the same period in 2022, when exports amounted to $1,658.815 million, the US maintained its position as the top export destination.
Exports to China
China emerged as the second-largest export destination for Pakistani products, with exports worth $633.374 million during the same period. This marked a significant 26.42% increase from the previous year when exports to China stood at $501.000 million.
Exports to the United Kingdom
Pakistan’s exports to the United Kingdom amounted to $518.948 million, securing the third spot as a top export destination. Although there was a marginal decline compared to the previous year’s exports of $519.948 million, the UK remains a significant market for Pakistani products.
Other Key Export Destinations
Aside from the top three export destinations, Pakistan also recorded significant exports to the United Arab Emirates (UAE) and Germany. Exports to the UAE were valued at $472.166 million, representing a notable 27.64% increase from the previous year. On the other hand, exports to Germany amounted to $364.446 million, with a slight decrease from the previous year’s $456.895 million.
Pakistan’s trade with various countries in the region and beyond continues to evolve, with exports showing both growth and fluctuation during the first quarter of the fiscal year 2023-24.
Source: The Express Tribune
