The United States remained at the top position as the leading destination for Pakistani exports during the fiscal year 2023-24, despite a notable decline, with China and the United Arab Emirates following closely.Â
According to the State Bank of Pakistan (SBP), Pakistan’s exports to the US totaled $5,432.929 million, down 8.41% from $5,932.358 million in the previous fiscal year.
China saw a rise in imports from Pakistan, with figures reaching $2,707.225 million, a 33.64% increase from $2,025.741 million last year. The UAE also marked a growth, importing goods worth $2,082.206 million compared to $1,475.832 million in the prior year.
Other notable trading partners included the United Kingdom, where exports slightly increased to $2,012.643 million from $1,968.432 million, and Germany, although exports to Germany dropped to $1,512.458 million from $1,600.413 million.
Further data indicated fluctuations in trade with European countries; exports to Holland and Italy fell to $1,383.094 million and $1,121.772 million, respectively. However, exports to Spain showed growth, reaching $1,449.465 million from $1,375.019 million.
In the Asian region, exports to Afghanistan and Bangladesh saw mixed results, with Afghanistan imports increasing to $554.008 million from $522.271 million, while exports to Bangladesh decreased to $666.516 million from $768.548 million.Â
Trade with France and Belgium also declined, with exports totaling $507.739 million and $556.163 million, respectively.
Conversely, exports to Saudi Arabia experienced an increase, rising to $710.335 million from $503.851 million. Exports to Turkey showed a slight increase to $335.137 million from $323.398 million, rounding out a diverse year of trade dynamics for Pakistan.
