Exports to USA decrease by 9.88pc in July 2020
ISLAMABAD – Pakistan’s exports of goods and services to United State of America (USA) witnessed a decrease of 9.88 per cent during the first month of current fiscal 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 $336.640 million during July 2020 against exports of $373.548 million during July 2019, showing negative growth of 9.88 per cent, SBP data revealed. Overall Pakistan’s exports to other countries witnessed decline of 14.57 per cent in first month, from $2.216 billion to $1.893 billion, the SBP data revealed. On the other hand, the imports from USA into the country during the period under review was recorded at $152.512 million against $128.997 million last year, showing growth of 18.22 per cent in July 2020. The overall imports into the country however decreased by 13.26 per cent, from $4.184 billion to $3.629 billion, according to the data. Based on the trade figures, the trade of goods and services with USA witnessed decrease of 24.70 per cent in surplus during July 2020 as compared to the corresponding period of last year. The surplus during the period under review was recorded at $184.128 million against $244.551 million during same period of last year, showing negative growth of 24.70 per cent, the data revealed.