US, China, UK remain top three destinations for Pakistani exports: SBP

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

Total exports to the US during July-February (FY20) were recorded at $2,755.213 million against the export of $2,687.053 million during July-February (FY19), showing an increase of 2.53 per cent during the period under review, the State Bank of Pakistan (SBP) figures revealed on Tuesday.

This was followed by China, wherein Pakistan exported goods worth $1179.304 million against the export of $1,156.774 million last year, showing a nominal increase of 1.94pc.

UK was the third top export destination, where Pakistan exported products worth $1,141.808 million during the current financial year against the export of $1172.866 million during the last fiscal year, showing a decrease of 2.64pc.

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Among other countries, Pakistani exports to the United Arab Emirates (UAE) stood at $ 1,100.851 million against $855.643 million worth exports during the last year, showing an increase of 28.65pc, while exports to Germany were recorded at $909.754 million against $871.801 million last year, the data revealed.

During the first eight months, exports to Afghanistan were recorded at $728.315 million against the export of $777.153 million, whereas exports to Holland stood at $687.618 million against $ 626.855 million.

Pakistan’s exports to Spain were recorded at US $606.391 million against $617.160 million worth exports last year, while exports to Italy stood at $524.612 million against $508.363 million worth exports.

Similarly, exports to Bangladesh during the current financial year were recorded at $512.089 million against $510.413 million in the last financial year, while exports to France stood at $294.119 million against $303.968 million in the last fiscal year.

Pakistan’s exports to Singapore were recorded at $139.487 million during the current financial year compared to $190.641 million last year.

Exports to Canada stood at $188.811 million against $195.322 million and to Saudi Arabia were recorded at $317.509 million in 8MFY20 against $210.854 million in 8MFY19.

Pakistan exported goods worth $19.738 million to India during the current financial year against $273.857 million exports during the last fiscal year.

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