US, UK, China remain Pakistan's top three destinations of exports

The State Bank of Pakistan (SBP) said that the United States (US) remained the top export destination of Pakistani products during the first five months of the current financial year (2019-20), followed by the United Kingdom (UK) and China.

The total exports to the US during July-November (2019-20) were recorded at $1744.415 million against exports of $1698.809 mn during July-November (2018-19), showing an increase of 2.68 percent during the period under review, according to the SBP.

This was followed by UK, where Pakistan exported goods worth $728.120 mn against exports of $753.054 mn last year, showing decrease of 3.31 percent.

China was the third top export destination, where Pakistan exported products worth $727.480 mn during the current financial year against exports of $741.643 mn during the last fiscal year, showing a nominal decrease of 1.90 percent, SBP data said.

Among other countries, Pakistani exports to United Arab Emirates (UAE) stood at $663.883 mn against $538.786 mn during last year, showing increase of 23.21 percent, while the exports to Germany were recorded at $533.048 mn against $549.071 mn last year.

During the first five months of the financial year, exports to Afghanistan were recorded at $432.465 mn against $460.461 mn the last financial year, whereas exports to Spain stood at $380.249 mn against $379.083 mn the previous year.

Pakistan’s exports to Italy were recorded at $324.971 mn against $322.660 mn last year, whereas exports to Bangladesh stood at $297.676 mn against $314.108 mn from the last period.

Similarly, exports to Belgium during the current financial year were recorded at $226.668 mn against $252.240 mn, while exports to France stood at $188.902 mn against $192.340 mn in the previous period.

Pakistan's exports to Singapore were recorded at $109.006 mn during the current financial year compared to $119.586 mn last year, whereas exports to Japan stood at $84.113 mn against $91.932 mn, to Indonesia $32.412 mn against $138.031 mn, whereas exports to India stood at $15.518 mn during the financial year against $182.207 mn during last year.