ISLAMABAD -Pakistan’s exports of goods and services to United States of America (USA) witnessed a decrease of 0.57 per cent during the first quarter (Q1) of current financial year (2020-21) as compared to the exports of corresponding period of last year, State Bank of Pakistan (SBP) reported. The overall exports to USA were recorded at $1047.748 million during July-September (2020-21) against exports of $1053.767 million during July-September (2019-20), showing nominal decline of 0.57 per cent, SBP data revealed. On year-to-year basis, the exports to USA increased by 10.84 per cent by going up from $339.136 million in September 2019, against the exports of $375.907 million in September 2020. Meanwhile, on month-on-month basis, the exports to USA also rose by 12.33 per cent during September 2020 as compared to the exports of $334.629 million in August 2020, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed decline of 10.46 per cent in first three months, from $ 5.984 billion to $ 5.358 billion, the SBP data revealed. On the other hand, the imports from USA into the country during the period under review were recorded at $ 440.388 million against $336.882 million last year, showing increase of 30.72 per cent in July-September (2020-21). 

On year-on year basis, the import from US witnessed an increase of 18.46 per cent by going up from US $109.112 million in September 2019, against the imports of $129.259 million in September 2020. On month-on-month basis, the imports from USA however witnessed decrease of 7.76 per cent during September 2020, as compared to the imports of $140.144 million during August 2020, according to the data. The overall imports into the country witnessed decrease of 3.82 per cent, from $11.032 billion to $ 10.610 billion, according to the data. Based on the trade figures, the trade of goods and services with USA witnessed decrease of 15.27 per cent in surplus during July-September (2020-21) as compared to the corresponding period of last year. The surplus during the period under review was recorded at $607.360 million against $716.885 million during same period of last year, showing negative growth of 15.27 per cent, the data revealed.