USA, UK, Germany remain top three destinations of Pakistani exports during Q1

ISLAMABAD: The United States of America (USA) remained the top export destinations of the Pakistani products during the first quarter (Q1) of financial year (2020-21), followed by United Kingdom (UK) and Germany.

Total exports to the USA during July-September (2020-21) were recorded at US $1047.748 million against the exports of US $1053.767 million during July-September (2019-20), showing nominal decline of 0.57 percent, according to State Bank of Pakistan (SBP).

This was followed by UK, wherein Pakistan exported goods worth US $427.514 million against the exports of US $426.407 million last year, showing increase of 0.25 percent.

Germany was the third top export destination, where Pakistan exported products worth US $ 367.525 million during the months under review against the exports of US $ 323.134 million during last year, showing growth of 13.73 percent, SBP data revealed.

Among other countries, Pakistani exports to China stood at US $329.421 million against US $438.914 million during last year, showing decrease of 24.94 percent while the exports UAE to were recorded at US $323.172 million against US $385.037 million last year, the data revealed.

During July-September (2020-21), the exports to Holland were recorded at US $229.277 million against US $256.788 million whereas the exports to Afghanistan stood at US $209.868 million against US $243.980 million.

Pakistan’s exports to Italy were recorded at 167.868 million against the exports of US $201.785 million while the exports to Spain were recorded at US $147.217 million against US $ 237.639 million last year.

The exports to Bangladesh stood at US $ 127.499 million against US $ 180.958 million.

Similarly, the exports to France during the months under review were recorded at US $108.664 million against US $91.175 million while the exports to Saudi Arabia stood at US $106.958 million against US $89.212 million.

Pakistan’s exports to Turkey were recorded at US $68.346 million during the current year compared to US $ 77.723 million last year whereas the exports to Canada stood at US $68.251 million against US $70.734 million, to Poland US $ 64.702 million against US $ 63.254 million whereas the exports to Australia stood at US $60.245 million during the current year against US $ 47.039 million during last year.

Overall Pakistan’s exports to other countries witnessed decline of 10.46 percent in first three months, from US $ 5.984 billion to US $ 5.358 billion, the SBP data revealed.