ISLAMABAD – With a growth of 4.9 percent in the first half of the current FY, Pakistan’s exports to ten countries declined mainly to the United Arab Emirates and Saudi Arabia.
The data reveals exports to the United Arab Emirates (UAE) fell by 22 percent from $607 million last fiscal year to this year's $474 million. Exports to Saudi Arabia also fell by 8.2 percent from $217.46 in 2019 to $199.73 in the same period.
It also revealed that Pakistan’s exports to Sri Lanka also declined by 18.2 percent. Exports to Thailand climbed down by 47% to $115.69 million to just $61.14 million
Furthermore, the exports to Malaysia also remained in the negative by 29 percent, reducing from $124.97 million to $89.28 million. Spain’s fell to $444.71 million from 480.32 million (7.4%).
It added that exports to Yemen also declined by 46percent, Madagascar by 47%, and Djibouti by 53.3%.
However, Pakistan’s exports to China improved by 18.4 percent to $1,047 million in July-December 2020 from $974.5 million in 2019, despite the ongoing Covid-19 pandemic.
Likewise, exports to the United States also increased by 18.4 percent, Britain by 20.8%, Germany at 15.1%, the Netherlands at 12.19%, and Indonesia at 39.2%.
Advisor to Prime Minister Imran Khan Abdul Razzak Dawood said that the officials of the commerce ministry chaired a meeting to discuss the decline of exports and currently in process of forming strategies to improve these.
Pakistani rupee remained stable against US dollar in the open bank market on Friday.
On Friday, the US dollar was being quoted at 285.3 for buying and 288.15 for selling.
Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.
UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.
|UK Pound Sterling||GBP||358.5||361.5|
|Hong Kong Dollar||HKD||36.63||36.98|
|New Zealand Dollar||NZD||173.44||175.44|
KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.
On Thursday, the single tola of 24 Karat gold was available at Rs217,400, and the price for 10-gram gold reached Rs186,390.
Meanwhile, the 22 Karat Gold price stands at Rs199,282, 21 karat rate for each tola is Rs190,225 and 18k gold rate hovers around Rs163,050.
In international market, the price of precious metal hovers around $2,045 per ounce.
|Lahore||PKR 217,400||PKR 2,696|
|Karachi||PKR 217,400||PKR 2,696|
|Islamabad||PKR 217,400||PKR 2,696|
|Peshawar||PKR 217,400||PKR 2,696|
|Quetta||PKR 217,400||PKR 2,696|
|Sialkot||PKR 217,400||PKR 2,696|
|Attock||PKR 217,400||PKR 2,696|
|Gujranwala||PKR 217,400||PKR 2,696|
|Jehlum||PKR 217,400||PKR 2,696|
|Multan||PKR 217,400||PKR 2,696|
|Bahawalpur||PKR 217,400||PKR 2,696|
|Gujrat||PKR 217,400||PKR 2,696|
|Nawabshah||PKR 217,400||PKR 2,696|
|Chakwal||PKR 217,400||PKR 2,696|
|Hyderabad||PKR 217,400||PKR 2,696|
|Nowshehra||PKR 217,400||PKR 2,696|
|Sargodha||PKR 217,400||PKR 2,696|
|Faisalabad||PKR 217,400||PKR 2,696|
|Mirpur||PKR 217,400||PKR 2,696|