Pakistan’s exports to USA increase 11.86pc in eight months

ISLAMABAD-Pakistan’s exports of goods and services to USA witnessed a surge of 11.86 per cent during the eight months of financial year (2020-21) compared to the corresponding period last year.

The overall exports to USA were recorded as $3082.199 million during July-February (2020-21) against exports of $2755.188 million during July- February (2019-20), showing growth of 11.86 per cent, SBP data revealed. Meanwhile, on year-to-year basis, exports to USA during February 2021 also increased by 27.68 per cent, from $314.802 million against the exports of $401.949 million.

However, month-on-month basis, exports to USA rose by 0.50 per cent during February 2021 in comparison with exports of $399.931 million in January 2021, SBP data said. Overall Pakistan’s exports to other countries witnessed decline of 2.26 per cent in eight months, from $16.438 billion to $16.065 billion. On the other hand, the imports from USA into the country during the period under review were recorded at $1467.056 million against $1470.703 million last year, showing nominal decrease of 0.24 per cent in seven months of this year.

Meanwhile, year-to-year basis, imports from USA during February 2021 decreased by 4.37 per cent from $247.366 million last year to $236.532 million. On month-on-month basis, the import from USA however increased by 0.30 per cent during February 2021 when compared to the import of $235.810 million in January 2021, SBP data said. The overall imports into the country increased by 8.59 per cent, from $29.604 billion to $32.149 billion.