Pakistan's exports to the UK increased by 12 percent in July-Sept 2020-21

LONDON: Pakistan's Exports to the United Kingdom (UK) during the July-September 2020-21,despite COVID-19 stood at US $ 465 million as compared to US $ 414 million achieved same period of the last fiscal year, depicting an increase of 12 percent, Economic and Trade Wing of Pakistan High Commission sources said.

According to the sources, Pakistan imports to the UK during the period July-September 2020-21 registered US $ 152 million as compared to US $ of 168 million achieved in the corresponding period of last fiscal year registering a decrease of Minus (-10) percent.

Similarly the bilateral trade volume during July-Sept 2020-21 registered at US $ 617 million as compared to US $ 582 million achieved in the same period of last fiscal, depicting an increase of 6 percent ,the sources added.

They further said that the balance of trade during July-Sept 2020-21 was US $ 313 million compared to US $ 246 million in the same period of previous fiscal showing and increase of 27 percent.

The Economic and Trade Wing of Pakistan High Commission sources while highlighting the trade statistics for the month of September 2020 said that Pakistan exports to the UK in the month stood at US $160 million compared to US $132 million achieved in the same period of last fiscal year showing an increase of 21 percent.

Similarly, they said that Pakistan imports to the UK in the month of September 2020 stood at US $ 54 million compared to US $ 56 million in the same period of last year showing a decrease of (-4 percent).

Similarly total trade volume between Pakistan and the UK during the month of September 2020 registered at US $ 214 million as compared to US $188 million realized in the corresponding month of last year showing an increase of 14 percent, the sources added.

Similarly, they added that the balance of trade in the month of September registered US $ 106 million as compared to US & 76 million achieved in the same month of last year showing an increase of 39 percent.

The sources while highlighting the trade analysis, further said that all major export categories registered remarkable increase in the UK markets despite COVID-19 and surpassed global imports.

The chapters which registered increase included Home textile (29 percent), Apparel non knitted or crotched (2 percent),articles of apparel ,accessories ,knit or crochet, other chapter which have shown increase were fruits, and vegetables (95 percent), carpets and other floor covering (104 percent),etc.

They said that other chapters where Pakistan's exports registered decline during the month of September 2020 were Articles of leather, (1 percent), surgical instruments (8 percent), and Cotton (41 percent).

Imports into Pakistan, however, they said declined by 4 percent which helped Pakistan further improve its trade balance with the UK by 39 percent.