Pakistan’s exports to USA increase 6.36pc in 5 months

ISLAMABAD: Pakistan’s exports of goods and services to United State of America (USA) has witnessed an increase of 6.36 percent during the first five months of financial year (2020-21) compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to USA were recorded at $1855.564 million during July-November (2020-21) against exports of $1744.463 million during July-November (2019-20), showing growth of 6.36 percent, SBP data revealed.

Meanwhile, on year-to-year basis, the exports to USA during November 2020 also increased by 24.86 percent, from $315.938 million against the exports of $394.01 million.

On month-on-month basis, the exports of USA however decreased by 4.55 percent during November 2020 when compared to the exports of $413.314 million in October 2020, the SBP data revealed.

Overall Pakistan’s exports to all countries witnessed decline of 7.13 percent in five months, from $9.550 billion to $10.284 billion, the SBP data revealed.

On the other hand, the imports from USA into the country during the period under review were recorded at $793.269 million against $729.116 million last year, showing increase of 8.79 percent in five months of this year.

Meanwhile, on year-to-year basis, the imports from USA during November 2020 however decreased by 3.30 percent, from $205.596 million last year to $198.811 million.

On month-on-month basis, the import from USA increased by 31.94 percent during November 2020 when compared to the import of $150.675 million in October 2020, the SBP data revealed.

The overall imports into the all countries decreased by 0.99 percent, from $18.345 billion to $18.163 billion, according to the data.