Exports to US decline 10pc to $3.63bn
Pakistan’s merchandise exports to the United States fell 10.14 per cent to $3.63 billion in the first eight months of the current fiscal year from $4.04bn over the corresponding period last year. The fall is mainly attributed to a dip in exports of textiles and clothing to North America, according to data compiled by the State Bank of Pakistan. Contrary to this, Pakistan’s exports to China increased by 42pc to $1.895bn in July-February FY24 from $1.334bn over the corresponding period last year. It is estimated that during FY24, Pakistan’s exports to China will reach $3bn by the end of June this year. According to PBS data, Pakistan’s exports to the US stood at $5.17bn in FY23, which fell by 23.28pc from $6.74bn over the previous fiscal year. In FY24, Pakistan’s exports to China stood at $2.22bn, dipped by 30pc from $3.18bn in FY22.