Pakistan: Exports to North America grow
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan’s merchandise exports to North America grew by 10.19pc to $5.91bn during the first 11 months of the current fiscal year (11MFY25), up from $5.363bn in the same period last year, largely due to rising textile and clothing shipments to the United States.
The growth in exports to the region was primarily fuelled by the US market, which accounted for nearly 94pc of the total exports to North America, with the remainder directed mostly to Canada.
Data compiled by the State Bank of Pakistan (SBP) suggests that the export revival was partly driven by a slowdown in textile shipments from competing countries, particularly Bangladesh and Vietnam.
In 11MFY25, exports to the US rose by 11.06pc to $5.552bn from $4.999bn a year earlier. However, full-year figures for FY24 showed a contraction of 8.26pc, with exports to the US falling to $5.442bn from $5.932bn in FY23. Notably, US-bound exports had stood at $6.74bn in FY22, before plunging 23.28pc in FY23.
Exports to Canada remained subdued, posting a slight decline of 1.68pc to $357.23m in 11MFY25 from $363.34m in the same period of the previous year. For FY24, exports to Canada fell by 8.77pc to $389.16m from $426.58m in FY23.
On the import side, Pakistan’s purchases from North America surged 25.8pc to $2.374bn in 11MFY25 from $1.887bn in the same period last year. The bulk of imports originated from the US, which supplied goods worth $2.153bn, reflecting a 23.8pc rise from $1.739bn in the previous year.
Meanwhile, Pakistan’s exports to Latin America rose by 23.82pc to $71.17m in 11MFY25, compared to $57.47m last year. Full-year data for FY24 shows exports to the region climbed 46.59pc to $77.82m from $53.09m in FY23.
Reference Link:- https://www.dawn.com/news/1924256
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
