Business

Pak-US trade witnesses over 44pc growth during FY2022

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Web Desk

4 years ago

Pak-US trade witnesses over 44pc growth during FY2022. Pakistan s goods and services trade with the United State of America (USA) witnessed an increase of 44.91 percent during twelve months of fiscal year (2021-22) as compared to the corresponding period of last year.

The overall exports to the USA were recorded at US $ 6798.982 million during July-June (2021-22) against exports of US $5030.724 million during July-June (2020-21), showing growth of 35.14 percent, SBP data revealed.

Meanwhile, on year-on-year basis, exports to USA during June 2022 also surged by 15.38 percent from US $ 555.492 million to US $ 640.935 million.

Similarly, month-on-month exports to the USA rose by 18.38 percent during June 2022 as compare with exports of US $ 541.391 million in May 2022, the SBP data said.

Overall Pakistan’s exports to all countries also witnessed an increase of 26.56 percent in twelve months, from US $25638.974 million to US $32450.087 million, the SBP data said.

On the other hand, imports from the US during the period under review were recorded at US $3055.169 million against US $2447.281 million of last year, showing an increase of 24.83 percent in July- June (2021-22).

Meanwhile, year-on-year imports from the US during June 2022 also increased by 36.60 percent from US $247.424 million last year to US $337.985 million.

On month-on-month basis, the imports from the US rose by 42.55 percent during June 2022 as compared to the import of US $237.092 million in May 2022, SBP data said.

The overall imports increased by 32.75 percent, from US $54272.920 million to US $72.048 million during the period under review.

The trade surplus during the period under review was recorded at $2583.443 million against $3743.813 million during same period of last year, showing 44.91 percent growth.

Web Desk