USA, China and UK top three destinations for Pakistani exports: SBP

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ISLAMABAD: The United States (US) remained the top export destination for Pakistani products during first half of the current financial year 2019-20, followed by China and United Kingdom (UK).

Total exports to the US during July-December FY20 were recorded at $2074.168 million against the exports of $2018.797 million during July-December FY19, showing a 2.74 per cent increase, according to a data of the State Bank of Pakistan (SBP).

This was followed by China where Pakistan exported goods worth $ 936.858 million in the period under review against the exports of $ 889.642 million in FY19, posting an increase of 5.30pc.

UK was the third top export destination where Pakistan exported products worth $863.347 million in the current financial year as compared to the exports of $895.074 million during the last fiscal year, showing a 3.54pc decrease, the central bank’s data revealed.

Among other countries, Pakistani exports to the United Arab Emirates (UAE) stood at $ 827.731 million in first half of FY20 against the exports of $8.221 million in the corresponding period of FY19, showing an increase of 29.69pc.

The exports to Germany were recorded at $670.833 million during the period under review against $647.285 million last year.

During the first half of the current fiscal year, the exports to Afghanistan were recorded at $543.159 million against $ 534.654 million whereas the exports to Spain stood at $ 445.086 million against $ 448.162 million.

Pakistan’s exports to Italy were recorded at $ 386.969 million against $379.409 million last year, whereas the exports to Bangladesh stood at $ 369.313 million against US $ 378.193 million during the period under review.

Similarly, the exports to Belgium during the current financial year were recorded at $266.187 million against $301.740 million while the exports to France stood at $222.013 million against $228.707 million.

Pakistan’s exports to Singapore were recorded at $117.594 million during the current financial year compared to $130.160 million last year, whereas, the exports to Canada stood at $143.424million against $148.368 million during the period under view.

Pakistan exported goods worth $243.213 to Saudi Arabia during first half of FY20 against $ 151.389 million exports in the corresponding period of last fiscal year.

The exports to India stood at $16.878 million during the financial year against $213.655 million in the corresponding period of last year.

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