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US, China, UK top three export destinations for Pakistan: SBP
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US, China, UK top three export destinations for Pakistan: SBP

ISLAMABAD: The United States of America (USA) remained the top export destination of Pakistani products during the first quarter of financial year (2019-20), followed by China and the United Kingdom (UK).

The total exports to US during July-September (2019-20) were recorded at $1053.630 million against the exports of $1004.641 million during July-September (2018-19), showing an increase of 4.87 percent during the period under review, according to the latest data issued by the State Bank of Pakistan (SBP).

This was followed by China, wherein Pakistan exported goods worth $438.914 million against the exports of $434.527 million last year, showing nominal growth of one percent.

UK was the third top export destination, where Pakistan exported products worth $426.406 million during the current financial year against the exports of $446.744 million during the last fiscal year, showing a decrease of 4.55 percent, SBP data revealed.

Among other countries, Pakistani exports to United Arab Emirates (UAE) stood at $384.100 million against $333.843 million during last year, showing increase of 15.05 percent while exports to Germany were recorded at $323.094 million against $333.867 million last year, the data revealed.

During the first quarter of the financial year, the exports to Afghanistan were recorded at $243.979 million against $299.981 million last year, whereas exports to Spain stood at $237.618 million against $228.286 million last year.

Pakistan’s exports to Bangladesh were recorded at $180.958 million against $176.142 million last year where as the exports to Italy stood at $1201.785 million against $192.845 million.

Similarly, the exports to Belgium during the current financial year were recorded at $135.190 million against $150.516 million while the exports to France stood at $ 108.659 million against $114.897 million.

Pakistan’s exports to Singapore were recorded at $66.273 million during the current financial year compared to $49.363 million last year whereas the exports to Japan stood at $49.477million against $53.781 million, to Indonesia $19.467 million against $114.009 million whereas the exports to India stood at $9.802 million during the financial year against $102.458 million during last year.