Pakistan’s exports to UK increase 10.79pc to $956mn in 1st half

ISLAMABAD: Pakistan’s exports of goods and services to United Kingdom (UK) witnessed an increase of 10.79 percent during the first half of financial year (2020-21) compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to UK were recorded at $956.498 million during July-December (2020-21) against exports of $863.33 million during July-December (2019-20), showing growth of 10.79 percent, SBP data revealed.

Meanwhile, on year-to-year basis, the exports to UK during December 2020, also increased by 33.90 percent, from $136.391 million against the exports of $182.635 million.

On month-on-month basis, the exports of UK rose by 6.51 percent during December 2020 when compared to the exports of $171.470 million in November 2020, the SBP data revealed.

Overall Pakistan’s exports to all countries witnessed decline of 4.75 percent in six months, from $12.392 billion to $11.803 billion, the SBP data revealed.

On the other hand, the imports from UK into the country during the period under review were recorded at $380.616 million against $353.364 million last year, showing increase of 7.71 percent in first half of this year.

Meanwhile, on year-to-year basis, the imports from UK during December 2020 also increased by 36.33 percent, from $55.617 million last year to $75.816 million.

On month-on-month basis, the import from UK also rose by 22.01 percent during December 2020 when compared to the import of $62.973 million in November 2020, the SBP data revealed.

The overall imports into the country increased by 4.83 percent, from $22.136 billion to $23.207 billion, according to the data.