ISLAMABAD - Pakistan’s export of goods and services to the United States (US) witnessed a decrease of 10.38 percent during the first eight months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) reported. The overall exports to US were recorded at $3,626.141 million during July-February (2023-24) against exports of $4,046.337 million during July-February (2022-23), the SBP data revealed. On a year-to-year basis, exports to US came down by 10.97 percent from $476.804 million in February 2023, against the exports of $424.497 million in February 2024.
Meanwhile, on a month-on-month basis, the exports to US also decreased by 6.89 percent during February 2024 as compared to the exports of $455.944 million in January 2024, the SBP data revealed. Overall Pakistan’s exports to other countries witnessed an increase of 10.15 percent in the first five months, from $18.643 billion to $20.537 billion, the SBP data revealed.
On the other hand, the imports from US into the country during the months under review were recorded at $1,191.518 million against $1,437.237 million last year, showing a decline of 17.09 percent in July-February (2023-24). On a year-on-year basis, the imports for US witnessed a decrease of 10.70 percent from $175.873 million in February 2023, against the imports of $157.042 million in February 2024. On a month-on-month basis, the imports from US into the country witnessed an increase of 12.34 percent during February 2024, as compared to the imports of $139.783 million during January 2024, according to the data. The overall imports into the country witnessed a decrease of 8.76 percent, from $37.354 billion to $34.079 billion, according to the data.