Around 4.37pc surplus witnessed in Pak-UK trade: SBP

ISLAMABAD: Pakistan’s goods and services trade with United Kingdom (UK) witnessed surplus of 4.37 percent during first three months of current financial year (2020-21) as compared to the corresponding period of last year.

The overall surplus was recorded at US $252.8 million July-September (2020-21) against US $242.2 million during July-September (2019-20), showing positive growth of 4.37 percent, State Bank of Pakistan (SBP) reported.

Pakistan exports to UK were recorded at US $427.5 million during the period under review as against the exports of US $426.4 million during same period of last year, showing nominal increase of 0.25 percent, SBP data revealed.

On year-to-year basis, the exports to UK increased by 8.64 percent by going up from $141.5 million in September 2019, against the exports of $153.7 million in September 2020.

Meanwhile, on month-on-month basis, the exports to UK also rose by 20.17 percent during September 2020 as compared to the exports of $127.9 million in August 2020, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed decline of 10.46 percent in first three months, from US $ 5.9 billion to US $ 5.3 billion, the SBP data revealed.

On the other hand, the imports from UK into the country during the period under review was recorded at US $ 174.7 million against US $184.2 million last year, showing negative growth of 5.14 percent in July-September (2020-21).

On year-on year basis, the import from UK witnessed an increase of 25.62 percent by going up from US $52.5 million in September 2019, against the imports of US $66 million in September 2020.

On month-on-month basis, the imports from UK also rose by 30.4 percent during September 2020, as compared to the imports of US $50.6 million during August 2020, according to the data.

The overall imports into the country witnessed decrease of 3.82 percent, from $11 billion to US $ 10.6 billion, according to the data.