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Categories: BusinessNewsWorld

Pakistan’s Exports to US Decline, Imports Show Mixed Trends

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Pakistan’s exports of goods and services to the United States experienced a significant decline of 10.38% during the initial eight months of the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP).

Data reveals that exports to the US amounted to US $3,626.141 million from July to February 2023-24, compared to US $4,046.337 million during the same period in 2022-23.

Similarly, exports witnessed a year-on-year reduction of 10.97% in February 2024, dropping from $476.804 million to $424.497 million. Conversely, Pakistan’s overall exports to other countries saw a positive trajectory, increasing by 10.15% in the first five months of the fiscal year.

Meanwhile, imports from the US showed a decline of 17.09% compared to the previous fiscal year, amounting to US $1,191.518 million.

Despite a year-on-year decrease in imports from the US in February 2024, there was a month-on-month increase, signaling mixed trends in trade dynamics. Overall, Pakistan’s imports experienced a decrease of 8.76%, totaling US $34.079 billion.

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Zubair Yaqoob

Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories. Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting. Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

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