Pakistani Exports US Maintains Top Spot
During the first five months of the current financial year 2023-24, the United States retained its position as the top export destination for Pakistani products, with total exports amounting to $2296.424 million. This represents a decline of 11.90% compared to the same period in the previous fiscal year, where exports to the US were $2606.612 million.
Following the US, China and the United Kingdom (UK) secured the second and third spots, respectively. Pakistan’s exports to China experienced significant growth, reaching $1223.532 million, a 39.44% increase from the previous year. The UK was the third-largest export destination, with exports totaling $862.397 million, slightly lower than the $874.066 million recorded in the same period last year.
Other notable export destinations for Pakistan included the United Arab Emirates (UAE) with exports valued at $817.993 million, reflecting a notable increase of 33.02%. Additionally, exports to Germany amounted to $612.276 million, down from $746.055 million in the previous year.
Holland also featured among the top countries, with exports totaling $559.819 million during the July-November period. Despite facing a decline in exports to the US, the overall diversification of export destinations signals resilience and opportunities for growth in Pakistan’s trade landscape.
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