The United States remained the top export destination of Pakistani products during the first quarter of the current fiscal year (2022-23), followed by the United Kingdom and China.

According to the State Bank of Pakistan (SBP), total exports to the US during July-September 2022-23 were recorded at $1.657 billion against the exports of $1.565 billion during the corresponding period of FY-22, showing a growth of 5.87%. This was followed by the UK, wherein Pakistan exported goods worth $519.870 million against the exports of $549.825 million last year, showing a decrease of 5.44%.

China was the third top export destination, where Pakistan exported goods worth $501 million during the period under review against the exports of $559.179 million during the corresponding period of last year, showing a decline of 10.40%, the SBP data shows.

Among other countries, Pakistani exports to Germany stood at $455.778 million during the period under review against $406.294 million last year, showing an increase of 12.17%, while exports to the UAE were recorded at $369.918 million against $407.151 million last year.

During the first quarter of FY23, exports to the Netherlands were recorded at $377.282 million against $328.654 million, whereas exports to Afghanistan stood at $127.157 million against $127.647 million. During the same period, Pakistan’s exports to Italy were recorded at $308.178 million against the exports of $252.776 million, while the exports to Spain were recorded at $324.583 million against $225.080 million last year.

Exports to Bangladesh during July-September FY23 stood at $234.504 million against $175.388 million during the corresponding period of last year.

Similarly, exports to France during the months under review were recorded at $153.504 million against $119.046 million, while the exports to Saudi Arabia stood at $115.114 million against $92.817 million last year.

Pakistan’s exports to Türkiye were recorded at $94.998 million during Q1 YF23 compared to $78.106 million last year, whereas exports to Canada stood at $125.720 million against $91.520 million, and exports to Poland were $93.711 million against $87.265 million, whereas the exports to Australia stood at $76.371 million during the first three months of the current year against $71.079 million during the corresponding period of last year.

Overall, Pakistan’s exports witnessed a growth of 11.34% in two months, from $4.574 billion to $5.092 billion, the SBP data showed.

Credit : Independent News Pakistan-WealthPk