Pak-US Trade Witnesses Over 29% Surplus During 2 Months

(@ChaudhryMAli88)

Pak-US trade witnesses over 29% surplus during 2 months

ISLAMABAD, Oct 5 (UrduPoint / Pakistan Point News - 5th Oct, 2022 ) :Pakistan's goods and services trade with the United State (US) witnessed a surplus of 29.75 percent during first two months of current fiscal year (2022-23) as compared to the corresponding period of last year.

The trade surplus during the period under review was recorded at $752.405 million against $579.855 million last year, showing 29.75 percent growth.

The overall exports to the US were recorded at US$ 1122.883 million during July-August this year against exports of US $1011.482 million during same month last year, showing an increase of 11.01 percent, SBP data revealed.

Meanwhile, on year-on-year basis, exports to US during August 2022 also surged by 22.58 percent from US $ 508.364 million to US $ 623.196 million.

Similarly, month-on-month exports to the US rose by 24.71 percent during August 2022 as compare with exports of US $ 499.

686 million in July 2022, the SBP data said.

Overall Pakistan's exports to all countries also witnessed an increase of 11.34 percent in two months, from US $4574.040 million to US $5092.977 million, the SBP data said.

On the other hand, imports from the US during the period under review were recorded at US $370.478 million against US $431.627 million of last year, showing a decrease of 14.16 percent in July- August (2022-23).

Meanwhile, year-on-year imports from the US during August 2022 increased by 2.15 percent from US $200.461 million last year to US $204.772 million.

On month-on-month basis, the imports from the US rose by 23.57 percent during August 2022 as compared to the import of US $165.706 million in May 2022, SBP data said.

The overall imports decreased by 2.11 percent, from US $11338.004 million to US $11098.019 million during the period under review.

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