Pakistan’s Exports to China, US, EU increases between July-April FY2021
ISLAMABAD: Pakistan’s exports to China, United States and the European Union marked a significant increase between July-April Fiscal Year 2021, announced Adviser to Prime Minister on Commerce, Abdul Razak, Dawood.
The exports marked an increase of 31% to $1.9 billion to China, due to implementation of second phase of the China-Pakistan Free Trade Agreement (CPFTA) between both the neighboring countries from January 1, 2020 and spanning till 2024.
Crossing the $4 million mark, the exports from Pakistan to US recorded an increase of 29% at USD $4,092 million during July-April 2021, as compared to USD 3,173 million in Jul-Apr 2020.
Taking the microblogging site – Twitter, the Adviser to PM on Commerce, Abdul Razak, Dawood lauded the efforts of MOC’s Trade & Investment Officers and urged them to provide maximum facilitation to our exporters & Investors.
The exports increased by 17.4% to $7.474 billion to the EU as compared to USD 6.367 Billion in Jul-Apr 2020. The major markets of the EU countries includes Poland (23 percent), Sweden (21 percent), Netherlands (21 percent), Germany (19 percent), France (14 percent), Belgium (12 percent), Italy (4 percent) and Spain (2 percent).
The exports to Germany rose 9% to $1.13 billion, whereas exports to the Netherlands increased 7% to $830.4 million.
Pakistan’s total exports in July-March FY2021 were recorded at $18.6 billion, marking a positive growth of 2% in value, as per the data released by the State Bank of Pakistan (SBP).
On the other hand, the exports to Bangladesh by 24%, UAE by 16%, Spain by 13%, and Italy by 6%.
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