Pakistan's Exports To USA Grew 4.64% In 7 Months

Pakistan's exports of goods and services to United State Of America (USA) grew by 4.64 percent during the first seven months of financial year (2019-20)compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported

ISLAMABAD, (UrduPoint / Pakistan Point News - 2nd Apr, 2020 ):Pakistan's exports of goods and services to United State Of America (USA) grew by 4.64 percent during the first seven months of financial year (2019-20)compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to USA were recorded at US $3494.345 million during July-January (2019-20) against exports of US $3339.206 million during July-January (2018-19), PBS data revealed.

On the other hand, the imports from USA into the country during the period were recorded at US $1932.144 million against US $1853.087 million last year, showing growth of 4.26 percent in first seven months of this year.

Based on the trade figures, the trade of goods and services with USA witnessed increase of 5.11 percent in surplus during first seven months of ongoing fiscal year as compared to the corresponding period of last year.

The surplus during the period under review was recorded at $1562.201 million against $1486.119 million during same period of last year, the data revealed.

The commodities that contributed positively growth in exports included rice exports of which grew from $16.084 million last year to $30.475 million during the current fiscal year, showing growth of 89.47 percent.

The exports of tobacco and its refuse also increased by 6250 percent, from $0.050 million to $3.175 million whereas the exports of furnishing articles of textile material increased by 41.47 percent, from $15.856 million to $22.433 million.

The exports of medical, surgical and dental instruments grew by 14.

60 percent, from $67.352 million to $77.192 million while the exports of articles of apparel and accessories of leather increased by 8.46 percent, from $67.132 million last year to $72.817 million, the data revealed.

The exports of maintenance and repair services increased by 28.47 percent, from $0.764 million to $1.417 million whereas the exports telecommunication, computer and information services increased by 28.08 percent, from $336.769 million to $431.291 million.

Meanwhile, the commodities that contributed positively growth in imports included special transaction NES imports of which grew from $48.706 million last year to $85.080 million during the current year, showing increase of 74.68 percent.

The imports of milk and cream concentrated or sweetened also increased by 10.84 percent, from $9.609 million to $10.651 million whereas the imports of air or vacuum pump, compressors and fans increased by 126.92 percent, from $6.350 million to $14.410 million.

The imports of motor vehicles for transport of goods also increased by 93.97 percent, from $7.772 million to $14.924 million whereas the imports of electric apparatus for line telephony (telephone sets) increased by 43.99 percent, from $5.692 million to $8.196 million.

The imports of ferrous waste and scrap also increased by 66.74 percent, from $63.962 million to $106.656 million whereas the imports of cotton, not carded or combed increased by 54.43 percent, from $141.022 million to $217.784 million, the data revealed.

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