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Pak-US bilateral trade reaches new heights

Pakistan's Exports reaching new limits as the country sees 29% increase in Exports to the US. Meanwhile, Kinnow Exports and Exports to Afghanistan also see a major increase this fiscal Year, compared to last.

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Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razak Dawood took to Twitter to announce that US has been one of the important markets for Pakistan during the current fiscal year 2021. Pakistan has exported goods and services worth $4.09 billion to the US.

He said, “The United States continues to be an important market for us. We are happy to share that our exports to the US during July-April 2021 have increased by 29% to USD 4,092 million as compared to USD 3,173 million in July-April 2020.”

This is important as the increase is almost of $1bn Year-on-Year. Mr. Dawood said, “This is a substantial increase of USD 918 million and credit goes to our exporters for making this possible under difficult global conditions.”

He also extended credit to the Ministry of Commerce’s Trade and Investment Officers and urged them to “provide maximum facilitation to our exporters & Investors.”

Read More: Pakistan’s exports to Australia rise by 29 percent

According to the Office of the US Trade Representative, Pakistan was the United States’ 55th largest supplier of goods imports in 2019.

U.S. goods imports from Pakistan totaled $3.9 billion in 2019, up 5.7% ($213 million) from 2018, and up 24.0% from 2009. 

The top import categories (2-digit HS) in 2019 were: miscellaneous textile articles ($1.3 billion), knit apparel ($880 million), woven apparel ($607 million), cotton ($161 million), and leather products ($140 million).

Pakistan’s total exports of agricultural products to US totaled $125 million in 2019. Leading categories include rice with a value of $38 million, sugars, sweeteners and beverage bases of value $29 million, spices of value $18 million, snack foods of value $8 million, and processed fruit & vegetables of value $7 million.

Other highlights

The government has also highlighted that Pakistan’s exports to Afghanistan have grown 15 percent to $689 million during the current fiscal year. According to Mr. Razzak Dawood, “the exports of Fruits, Vegetables, Meat, Dairy products, Chemicals, Electrical equipment, Machinery, Paper & Paperboard,” were the major contributors.

Read More: Pakistan’s exports to Afghanistan rise by 15%

On the other hand, Pakistan’s export of Kinnows & Oranges increased by 16% to $209 million during July-April 2021 as compared to USD 180 million during the same period last year.

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