Pakistan’s exports to USA increase 11.86pc to $3082mn in 8 months

ISLAMABAD: Pakistan’s exports of goods and services to United State of America (USA) witnessed a surge of 11.86 percent during the eight months of financial year (2020-21) compared to the corresponding period last year.

The overall exports to USA were recorded as US $ 3082.199 million during July-February (2020-21) against exports of US $ 2755.188 million during July- February (2019-20), showing growth of 11.86 percent, State Bank of Pakistan (SBP) data revealed.

Meanwhile, on year-to-year basis, exports to USA during February 2021 also increased by 27.68 percent, from US $ 314.802 million against the exports of US $401.949 million.

However, month-on-month basis, exports of USA were rose by 0.50 percent during February 2021 in comparison with exports of US $ 399.931 million in January 2021, SBP data said.

Overall Pakistan’s exports to other countries witnessed decline of 2.26 percent in eight months, from US $ 16.438 billion to US $ 16.065 billion.

On the other hand, the imports from USA into the country during the period under review were recorded as US $ 1467.056 million against US $ 1470.703 million last year, showing nominal decrease of 0.24 percent in seven months of this year.

Meanwhile, year-to-year basis, imports from USA during February 2021 decreased by 4.37 percent from US $247.366 million last year to US $236.532 million.

On month-on-month basis, the import from USA however increased by 0.30 percent during February 2021 when compared to the import of US $235.810 million in January 2021, SBP data said.

The overall imports into the country increased by 8.59 percent, from US $29.604 billion to US $ 32.149 billion.