US Overtakes as Pakistan’s Leading Export Destination

Islamabad: The United States (US) has maintained its position as the leading destination for Pakistani exports during the first eleven months of the financial year 2023-24, as reported by the State Bank of Pakistan (SBP). Despite a 9.02% decline from the previous year, total exports to the US stood at $4,989.140 million, down from $5,484.257 million during the same period in 2022-23.

China emerged as the second-largest export destination for Pakistan, with exports reaching $2,553.481 million. This marks a significant 35.16% increase from $1,889.195 million recorded last year.

The United Arab Emirates (UAE) secured the third position, with exports totaling $1,880.820 million, a notable rise from $1,341.804 million in the previous year.

Additionally, exports to the United Kingdom (UK) saw a slight increase, amounting to $1,861.083 million, up from $1,808.288 million last year.

These figures highlight the shifts in Pakistan's export markets, with substantial growth observed in trade with China and the UAE, while exports to the US experienced a decline.