US, China and UAE top export destinations

The United States remained the top export destination for Pakistani products during financial year 2023-24, followed by China and the United Arab Emirates (UAE). Total exports to the US reached $5.43 billion during July-June 2023-24 against exports of $5.93 billion in 2022-23, showing a decline of 8.4%, according to the State Bank of Pakistan (SBP). It was followed by China, where Pakistan exported goods worth $2.71 billion compared to shipments of $2.03 billion last year, registering an increase of 33.6%. UAE was the third top export destination as Pakistan shipped products valuing at $2.08 billion in FY24 against exports of $1.48 billion in the previous year, SBP data revealed. Among other key markets, Pakistan’s exports to the United Kingdom stood at $2.01 billion, up from $1.97 billion last year while exports to Germany were recorded at $1.51 billion, slightly lower than $1.60 billion.