Pakistan’s trade surplus with US contracts 12.16pc in eleven months: SBP

Overall exports declined by 6.77pc while imports fell 18.72pc during the period under review

ISLAMABAD: Pakistan’s goods and services trade surplus with the United State (US) fell 12.16 per cent during the first eleven months (July 2019 to May 2020) of FY20, as compared to the corresponding period of last year.

According to State Bank of Pakistan (SBP), the trade surplus with the US during the period under review was recorded at $1538.649 million against $1751.703 million during the same period of last year.

Pakistan’s overall exports to US were recorded at $3588.819 million during the first eleven months of FY20, compared to exports of $3727.390 million during the same period of last year, depicting a decline of 3.71 per cent.

On the other hand, imports from the US into the country during the period under review were recorded at $2050.170 million compared to $1975.687 million in the same period of last year, showing an increase of 3.76 per cent.

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Overall Pakistan’s exports to other countries witnessed a decline of 6.77 per cent during the first eleven months of FY20, falling from $22.457 billion to $20.936 billion, the SBP data revealed.

The overall imports into the country decreased by 18.72 per cent, to $38.877 billion during the period under review from $47.831 billion in the same period of FY19.

 

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