Pakistan’s exports to US grew 4.64% in 7 months
ISLAMABAD: Pakistan’s exports of goods and services to United State Of America (USA) grew by 4.64 percent during the first seven months of financial year (2019-20) compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.
The overall exports to USA were recorded at US $3494.345 million during July-January (2019-20) against exports of US $3339.206 million during July-January (2018-19), PBS data revealed.
On the other hand, the imports from USA into the country during the period were recorded at US $1932.144 million against US $1853.087 million last year, showing growth of 4.26 percent in the first seven months of this year.
Based on the trade figures, the trade of goods and services with USA witnessed increase of 5.11 percent in surplus during first seven months of ongoing fiscal year as compared to the corresponding period of last year.
The surplus during the period under review was recorded at $1562.201 million against $1486.119 million during same period of last year, the data revealed.
The commodities that contributed positively growth in exports included rice exports of which grew from $16.084 million last year to $30.475 million during the current fiscal year, showing growth of 89.47 percent.
The exports of tobacco and its refuse also increased by 6250 percent, from $0.050 million to $3.175 million whereas the exports of furnishing articles of textile material increased by 41.47 percent, from $15.856 million to $22.433 million. – APP