Exports to US up 6.1pc to $2.68 billion

ISLAMABAD: Pakistan’s exports to United State of America (USA) grew by 6.11 percent during the first eight months of the current fiscal year compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to USA were recorded at $2684.394 million during July-February (2018-19) against exports of $2529.610 million during July-February (2017-18), PBS data revealed.

On the other hand, the imports from USA into the country during the period were recorded at $1376.545 million against $1218.547 million last year, showing positive growth of 12.96 percent.

Based on the figures, the trade surplus during the period under review was recorded at $1307.849 million against $1311.063 million during same period of last year, showing decline of 0.24 percent.

The commodities that contributed positively in exports included gents suits, ensembles jackets etc exports of which grew from $74.786 million last year to $122.266 million during the current fiscal year, showing growth of 63.48 percent.

The exports of men's or boys suits ensembles etc also increased by 7.89 percent, from $315.718 million to $340.633 million whereas the exports of bed and table linen, toilet and kitchen linen decreased by 1.39 percent, from $617.986 million to $609.385 million.

The exports of articles and equipments for sports decreased by 12 percent, from $62.911 million to $55.332 while the exports of made-up articles of textile materials increased by 12.91 percent, from $215.417 million last year to $243.232 million, the data revealed.

Over all Pakistan’s exports to other countries witnessed an increase of 0.16 percent in eight months, from $19.486 billion to $19.454 billion, the SBP data revealed.

Meanwhile, the commodities that contributed positively in imports included parts of railway or tramway locomotive imports of which grew from US $9.890 million last year to US $33.065 million, showing increase of 234.32 percent.

The imports of soya beans also increased by 161.28 percent, from $148.190 million to $387.203 million whereas the imports of cotton (not carded or combed) increased by 40.69 percent, from $139.417 million to $196.157 million.

The imports of chemical wood pulp, soda or sulfate, not dissolving increased by 87.57 percent, from $20.532 million to $38.513 million.

The overall imports into the country decreased by 4.85 percent, from $43.004 billion to $41.032 billion, according to the data.