Pakistan’s exports to USA decrease by 6 per cent

ISLAMABAD-Pakistan’s exports of goods and services to United State of America (USA) witnessed a decrease of 6 per cent during the first two months 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 $671.752 million during July-August (2020-21) against exports of $714.632 million during July-August (2019-20), showing negative growth of 6 per cent, SBP data revealed. Overall Pakistan’s exports to other countries witnessed decline of 16.63 per cent in first two months, from $4.105 billion to $3.422 billion, the SBP data revealed. On the other hand, the imports from USA into the country during the period under review was recorded at $311.377 million against $227.769 million last year, showing growth of 36.70 per cent in July-August (2020-21). The overall imports into the country however decreased by 12.69 per cent, from $7.704 billion to $6.729 billion, according to the data. Based on the trade figures, the trade of goods and services with USA witnessed decrease of 25.98 per cent in surplus during July-August (2020-21) as compared to the corresponding period of last year. The surplus during the period under review was recorded at $360.375 million against $486.863 million during same period of last year, showing negative growth of 25.98 per cent, the data revealed.

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