Pakistan’s trade with US increases 17.34 per cent in 1st half

ISLAMABAD-Pakistan’s goods and services trade with United State of America (USA) witnessed an increase of 17.34 percent during the first half of ongoing financial year (2020-21) as compared to the corresponding period of last year.

The trade surplus was recorded at $1286.735 million during July-December (2020-21) against $1096.551 million during July-December (2019-20), showing growth of 17.34 percent, the State Bank of Pakistan (SBP) data revealed.

The overall exports to USA also increased by 9.94 percent from $2074.080 million last year to $2280.318 million during the period under review.

Meanwhile, on year-to-year basis, the exports to USA during December 2020 also increased by 28.86 percent from $329.616 million against the exports of $424.754 million.

On month-on-month basis, the exports to US rose by 7.67 percent during December 2020 as compared to the exports of $394.486 million in November 2020, the SBP data revealed.

Overall Pakistan’s exports to all countries witnessed decline of 4.75 percent in six months, from $12.392 billion to $11.803 billion, the SBP data revealed.

On the other hand, the imports from US during the period under review were recorded at $993.583 million against $977.529 million last year, showing nominal increase of 1.64 percent in six months of this year.

Meanwhile, on year-to-year basis, the imports from USA during December 2020 however decreased by 22.30 percent, from $248.413 million last year to $192.996 million.

On month-on-month basis, the import from USA also declined by 6.18 percent during December 2020 as compared to the import of $205.729 million in November 2020, the SBP data revealed.

The overall imports into the all countries increased by 4.83 percent, from $22.136 billion to $23.207 billion, according to the data.

Article source: https://nation.com.pk/23-Jan-2021/pakistan-s-trade-with-us-increases-17-34-per-cent-in-1st-half