ISLAMABAD: Pakistan’s export performance to North America during the first four months of the ongoing fiscal year grew nearly 9 percent compared to the correspondent period of previous years.
According to data compiled by the State Bank of Pakistan, it is primarily due to boom in textile and wear exports to the United States.
Whereas, in FY24, exports to the region recorded a negative growth of 8.42 percent, showing a total of $5.432 billion in comparison with $5.93 billion at the same time the year before.
Pakistan’s exports to the US fell to $5.17 billion in FY23, a decrease of 23.28 percent from $6.74 billion in the previous fiscal year.
This year’s revival in exports to the region is primarily due to an increase in the exports of textiles and clothing, following a slump in exports by Bangladesh and Vietnam.
In North America, export figures for Pakistan are $2.037 billion to the United States in 4MFY25 as compared to 1.862 billion dollars last year for the same months, whereas the growth in exports stands at 9.39 percent.
According to PBS data, Pakistan’s exports to the US stood at $5.17bn in FY23, which fell by 23.28pc from $6.74bn over the previous fiscal year.
Pakistan’s exports have shown very meagre growth of 2.90 percent, coming to $131.79 million in 4MFY25 from $128.07 million over the corresponding months of the previous year.
Exports to Canada from Pakistan in FY24 stood at $389.164 million over the previous year’s $426.575 million, indicating a decline of 8.77 percent.
Imports from North America stood at $819.274 million in 4MFY25 as compared to $639.609 million in the previous year, thereby recording an increase of 28 percent. Highest imports are from USA.
In the same region, Pakistan’s export to Latin America is at $19.037 million in 4MFY25, last year it compares with $14.953 million, and this difference indicates a slight rise of 27 percent.
