US top importer of Pakistani goods
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan’s exports rise 9.4% to $2B, with the US as top destination for FY 2024-25.
Pakistan receives duty-free trade concessions from several of its major trading partners but, with rising costs faced by exporters, they often struggle to remain competitive.
The United States remains Pakistan’s top export destination during the first four months of the financial year 2024-25, with exports totaling $2,037.27 million, a 9.4% increase from $1,862.09 million in the same period last year, according to the State Bank of Pakistan (SBP).
China ranked second, with exports amounting to $813.44 million, down 14.6% from $952.44 million last year. The United Kingdom secured the third spot, with exports rising to $761.39 million compared to $690.58 million previously.
Exports to the United Arab Emirates showed growth, reaching $737.43 million, up from $624.43 million. Germany followed with $579.14 million in exports, an increase from $487.83 million.
Holland imported $501.32 million worth of Pakistani goods, up from $448.26 million, while exports to Italy declined slightly to $394.41 million from $409.40 million. Exports to Spain also dropped to $478.88 million compared to $516.58 million last year.
Reference Link:- https://tribune.com.pk/story/2512335/us-top-importer-of-pakistani-goods
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.…
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