Pak-US trade witnesses over 51% growth in 11 months

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Pakistan’s goods and services trade with the United State of America (USA) witnessed surplus of 51.22 percent during eleven months of fiscal year (2021-22) as compared to the corresponding period of last year.

The overall exports to the USA were recorded at $ 6158.171 million during July-May (2021-22) against exports of $4475.232 million during July-May (2020-21), showing growth of 37.60 percent, SBP data revealed.

Meanwhile, on a year-on-year basis, exports to USA during May 2022 also surged by 19.17 percent, from US $ 454.332 million to US $ 541.433 million.

Similarly, month-on-month exports to the USA however decreased by 1.41 percent during May 2022 as compare with exports of US $ 618.214 million in April 2022, the SBP data said.

Overall Pakistan’s exports to all countries also witnessed an increase of 26.73 percent in eleven months, from $23.146 billion to $29.333 billion, the SBP data said.

On the other hand, imports from the US during the period under review were recorded at $2717.185 million against $2199.857 million of last year, showing an increase of 23.51 percent in July-May (2021-22).

Meanwhile, year-on-year imports from the US during May 2022 also increased by 13.28 percent from US $209.294 million last year to US $237.092 million.

On month-on-month basis, the imports from the US however dipped by 6.16 percent during May 2022 as compared to the import of US $252.676 million in April 2022, SBP data said.

The overall imports increased by 34.46 percent, from US $47.970 billion to US $65.461 billion.

The trade surplus during the period under review was recorded at $3440.986 million against $2275.375 million during same period of last year, showing 51.22 percent growth.

 

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