Q3 2023: Pakistani Goods Thrive in US, China, and UK Markets
During the initial three months of the 2023-24 financial year, the United States (US) retained its position as the primary export destination for Pakistani products. China and the United Kingdom (UK) followed suit. The State Bank of Pakistan (SBP) reported that exports to the US from July to September 2023 amounted to US $1376.125 million, reflecting a 17.04 percent decrease compared to the US $1658.815 million recorded during the same period in 2022.
This was followed by China, wherein Pakistan exported goods worth US $633.374 million against the exports of US $501.000 million last year, showing an increase of 26.42 percent.
UK was the third top export destination, where Pakistan exported products worth US $518.948 million during the months under review against the exports of US $519.948 million, SBP data revealed.
Among other countries, Pakistani exports to UAE stood at US $472.166 million against US $369.904 million last year, showing an increase of 27.64 percent while the exports to Germany were recorded at US $364.446 million against US $456.895 million last year, data said.
During the months under review, the exports to Holland were recorded at $331.860 million against $382.241 million whereas the exports to Italy stood at $299.151 million against $308.317 million.
Pakistan’s exports to Spain were recorded at $366.935 million against the exports of US $325.940 million while the exports to Afghanistan were recorded at $128.533 million against $127.157 million last year.
The exports to Bangladesh stood at US $144.506 million against US $234.144 million.
Similarly, the exports to France during the months under review were recorded at US $130.743 million against US $153.504 million while the exports to Belgium stood at US $136.588 million against US $197.686 million.
Pakistan’s exports to Saudi Arabia were recorded at US $149.271 million during the current year compared to US $114.849 million last year whereas the exports to Turkiye stood at US $90.272 million against US $94.998 million.
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