USA Was The Top Export Destination of Pakistan in July-Aug FY19-20

The United States of America (USA), which is the world's biggest economy, remained the top export destinations of the Pakistani products during the first two months (July-August) of the current financial year (2019-20), followed by China and United Kingdom (UK).

According to the latest data issued by State Bank of Pakistan (SBP), total exports to the USA during July-August (2019-20) were recorded at $714.570 million compared to $689.963 million during the same period last year, showing an increase of 3.56%.

This was followed by China which was the second major export destination, where Pakistan exported goods worth $293.431 million against exports of $290.668 million last year, showing a growth of 0.95 percent.

The UK was the third biggest export destination, where Pakistan exported products worth $285.943 million during the current financial year against exports of $301.184 million during last fiscal year, showing a decrease of 5.06 percent.

Among the other countries, Pakistani exports to United Arab Emirates (UAE) amounted to $272.572 million against $239.644 million during last year, showing an increase of 13.74 percent while exports to Germany were recorded at $220.766 million compared to $233.935 million last year, the data revealed.

Exports to Afghanistan declined to $166.515 million from $240.475 million whereas the exports to Spain increased to $156.303 million from $144.756 million.

Pakistan's exports to Bangladesh were recorded at $123.322 million versus $106.337 million last year, whereas exports to Italy stood at $131.856 million compared to $133.984 million. Similarly, exports to Belgium during the current financial year were recorded at $94.571 million against $101.911 million while exports to France stood at $73.949 million against $80.033 million.

However, Pakistan's exports to India were recorded at $8.033 million during the current financial year compared to $76.830 million last year, as tensions between the two neighboring countries are high.

Exports to Singapore stood at $45.961 million against $34.437 million, with exports to Indonesia decreasing to $11.409 million compared to $90.445 million. Exports to Japan stood at $36.809 million during the financial year compared to $35.087 million during last year.

Source: Pro Pakistani