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%.
For the first time, Pakistan’s exports to UK cross 1b in first 6 months of any FY
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.
