Exports to North America rise 9pc

Pakis­tan’s merchandise exports to North America witnessed nearly nine per cent growth in the first four months of the current fiscal year compared to the previous year, mainly due to a surge in exports to the United States. According to data compiled by the State Bank of Pakistan, the increase in exports to the region is mainly attributed to the rise in textile and clothing exports to the US. In FY24, Pakistan’s exports to the region recorded a negative growth of 8.42pc to $5.432 billion from $5.93bn over the same period last year. Pakistan’s exports to the US stood at $5.17bn in FY23, down 23.28pc from $6.74bn in the previous fiscal year. The revival of exports to the region was recorded in the current fiscal year mainly due to a rise in exports of textiles and clothing following a slowdown in exports from Bangladesh and Vietnam.