Fakiha Tariq

Pakistan's overall exports to other countries increased by 2.59% in the first four months of the current fiscal year, rising from $9576.107 million to $9825.020 million, according to figures released by the State Bank of Pakistan (SBP). During the first four months of the current fiscal year (2022-23), the United States continued to be Pakistan's top export destination, followed by the United Kingdom and China, the SBP data reveals.

Total exports to the United States from July through October (2022–2023) totalled $2132.689 million, up 1.72% from the $2096.444 million in exports during the same period the previous year. The United Kingdom came next, as Pakistan sold items worth $685.614 million, a decline of 8.06% from the exports of $745.751 million the previous year. China was Pakistan's third-largest export market; the country sent items to China worth $678.386 million during the months under review, down from $763.572 million during the same period last year, showing a decrease of 11.15%.

In comparison to the previous year, Pakistani exports to Germany increased by 12.91% to $605.778 million from $536.227 million, while exports to the United Arab Emirates decreased to $499.040 million from $532.488 million. The exports to Holland were $564.836 million compared to $437.312 million from July to October (2022-23), while the exports to Afghanistan were $176.019 million compared to $158.721 million. Pakistan's exports to Italy were worth $401.020 million, compared to $327.871 million last year, and its exports to Spain were worth $450.245 million, compared to $316.495 million. The exports to Bangladesh stood at $294.859 million against $244.324 million.

Similarly, during the months under consideration, exports to France totalled $209.851 million against $163.9 million, while exports to Saudi Arabia were $147.053 million compared to $127.196 million. Pakistan's exports to Turkiye were $118.416 million in the current fiscal year compared to $103.683 million in the previous fiscal year; in contrast, exports to Canada were $163.221 million against $125.404 million; exports to Poland were $120.988 million against $112.263 million; and exports to Australia were $101.225 million compared to $90.823 million in the previous fiscal year.

Credit : Independent News Pakistan-WealthPk