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Pakistan, China, and the UK all exported more goods to the US in the first five months of 2023–2024. From July to November 2023, the State Bank of Pakistan exported $2296.424 million to the US, down 11.90% from $2606.612 million in 2022.
Export (Photo: WE News)
Export Dynamics: China and UAE Gains, UK and Germany Changes
Pakistan exported $1223.532 million to China, up from $877.444 million. This remarkable 39.44% growth reflects growing trade between the two nations. SBP data shows Pakistan exported $862.397 million to the UK during the period under consideration. Pakistan’s third-largest export market is the UK. Exports to the UK decreased from $874.066 million last year.
Pakistan’s exports to the UAE rose. Exports to the UAE grew 33.02 percent to $817.993 million from $614.902 million. Pakistan’s exports to Germany, another significant market, fell to $612.276 million from $746.055 million.
In July–November, exports to Holland fell from $630.973 million to $559.819 million. Exports to Italy climbed from $491.734 million to $501.985 million.
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Growth in Spain and Afghanistan; challenges in Bangladesh and Europe
Pakistan exported $638.783 million to Spain, up from $569.936 million last year. Pakistan sent $232.697 million to Afghanistan, up from $213.282 million last year. Pakistan’s export industry is growing, showing closer business relations with these two nations.
The newest data shows a significant reduction in Bangladesh shipments. Exports fell from $364.930 million to $248.457 million, according to official data. This export drop highlights exporting industry problems and calls for a deeper investigation. Recent assessments show exports to France declined from $252.691 million to $207.024 million. Exports to Belgium dropped from $322.509 to $235.611.
Pakistan’s exports to Saudi Arabia reached $275.655 million this year. This is up from $183.736 million last year. Islamabad exported $158.683 million to Turkey, up from $139.825 million the previous year.
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