US, UK, China remain Pakistan’s top export destinations

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The United States (US) has maintained its position as the top export destination for Pakistani products during the first five months of the current financial year (2019-20).

According to the data released by the State Bank of Pakistan (SBP), the total exports to the US during July-November FY20 were recorded at $1,744.415 million, as against exports of $1,698.809 million during July-November FY19, showing an increase of 2.68pc.

This was followed by the UK, where Pakistan exported goods worth $728.120 million during the period under review, as against exports of $753.054 million last year, a decrease of 3.31pc.

China was the third top export destination for Pakistan, as the country exported products worth $727.480 million to China in 5MFY20, as against exports of $741.643 million last year, depicting a nominal decrease of 1.90pc.

Among other countries, Pakistani exports to United Arab Emirates (UAE) stood at $663.883 million during the first five months of FY20 ($538.786 million in 5MFY19), while exports to Germany were recorded at $533.048 million ($549.071 million last year).

During the period under review, exports to Afghanistan were recorded at $432.465 million ($460.461 last year), exports to Spain stood at $380.249 million ($379.083 million last year), exports to Italy were recorded at $324.971 million ($322.660 million last year), Bangladesh $297.676 million ($314.108 million last year), Belgium $226.668 million ($252.240 million last year), France $188.902 million ($192.340 million last year), Singapore $109.006 million ($119.586 million last year), Japan $84.113 million ($91.932 million last year) Indonesia $32.412 million ($138.031 million last year, whereas exports to India stood at $15.518 million ($182.207 million last year).

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