Pak-US Trade Witnesses Over 44% Growth During FY2022

ISLAMABAD, (UrduPoint / Pakistan Point News – twenty ninth Jul, 2022 ) :Pakistan’s items and providers commerce with the United State of America (USA) witnessed a rise of 44.91 % throughout twelve months of fiscal yr (2021-22) as in comparison with the corresponding interval of final yr.

The general exports to the USA have been recorded at US $ 6798.982 million throughout July-June (2021-22) in opposition to exports of US $5030.724 million throughout July-June (2020-21), exhibiting development of 35.14 %, SBP knowledge revealed.

Meanwhile, on year-on-year foundation, exports to USA throughout June 2022 additionally surged by 15.38 % from US $ 555.492 million to US $ 640.935 million.

Similarly, month-on-month exports to the USA rose by 18.38 % throughout June 2022 as evaluate with exports of US $ 541.391 million in May 2022, the SBP knowledge stated.

Overall Pakistan’s exports to all international locations additionally witnessed a rise of 26.56 % in twelve months, from US $25638.

974 million to US $32450.087 million, the SBP knowledge stated.

On the opposite hand, imports from the US through the interval beneath assessment have been recorded at US $3055.169 million in opposition to US $2447.281 million of final yr, exhibiting a rise of 24.83 % in July- June (2021-22).

Meanwhile, year-on-year imports from the US throughout June 2022 additionally elevated by 36.60 % from US $247.424 million final yr to US $337.985 million.

On month-on-month foundation, the imports from the US rose by 42.55 % throughout June 2022 as in comparison with the import of US $237.092 million in May 2022, SBP knowledge stated.

The general imports elevated by 32.75 %, from US $54272.920 million to US $72.048 million through the interval beneath assessment.

The commerce surplus through the interval beneath assessment was recorded at $2583.443 million in opposition to $3743.813 million throughout similar interval of final yr, exhibiting 44.91 % development.

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