The first four months of the current fiscal year (2022-23) saw a surplus of 10.65% in Pakistan's goods and services trade with the United States compared to the same period in 2021-22. According to figures from the State Bank of Pakistan (SBP), the trade surplus for the months under review was $1,397.879 million, up from $1263.332 million the previous year, representing a 10.65% rise.

Between July and October of this year, total exports to the US increased by 1.72% to $2,132.689 million from $2,096.444 million during the same period previous year. However, on a year-over-year basis, exports to the US fell by 10.50% from $531.123 million to $475.330 million in October 2022.

Similar to this, shipments to the US fell 11.06% month over month in October 2022 compared to September 2022 exports of $534.477 million. In total, exports from Pakistan to all nations increased by 2.60% in just four months, from $9,576.107 million to $9,825.020 million. On the other side, imports from the US between July and October 2022–23 were $734.810 million, compared to $833.112 million the previous year, a decline of 11.80%. 

In the meantime, imports from the US rose 9.60% year over year in October 2022, from $143.350 million to $157.129 million. When compared to the imports of $202.797 million in September 2022, the imports from the US fell by 22.52% in October 2022. The SBP data shows that total imports declined by 11.66% over the examined period, from $23,324.945 million to $20,617.080 million.

Credit : Independent News Pakistan-WealthPk