ISLAMABAD: The goods and services trade of Pakistan with the United States (US) has witnessed a surplus of 10.65 percent during the first quarter of the fiscal year 2022-23 as compared to the same period of the fiscal year 2021-22.
Trade surplus during the first quarter of the current fiscal year was recorded at $1397.879 million against $1263.332 million last year, showing a 10.65 percent increase.
The overall exports of Pakistan to the US were recorded at US $2132.689 million during July-October this year against exports of US $2096.444 million during the same months last year, showing an increase of 1.72 percent, SBP data revealed.
Pakistan’s Exports Trade to US Witnessed 2.60% Increase
Meanwhile, on a year-on-year basis, exports to the US during October 2022, however, decreased by 10.50 percent from US $ 531.123 million to US $ 475.330 million.
Similarly, according to the SBP data, month-on-month exports to the US dipped by 11.06 percent during October 2022 as compared with exports of US $ 534.477 million in September 2022.
Also Read: Qatar Announces Major Gas Deal for Germany
The SBP data showed overall, Pakistan’s total exports witnessed an increase of 2.60 percent in the first quarter of the current fiscal year, from US $9576.107 million to US $9825.020 million.
Meanwhile, imports from the US during the first quarter of the current fiscal year were recorded at US $734.810 million against US $833.112 million last year, showing a decrease of 11.80 percent in July-October (2022-23).
Imports Trade from US Increased by 9.60%
Meanwhile, year-on-year imports from the US during October 2022, however, increased by 9.60 percent from US $143.350 million last year to US $157.129 million.
On a month-on-month basis, the imports from the US decreased by 22.52 percent during October 2022 compared to the import of US $202.797 million in September 2022, SBP data said.
The overall imports decreased by 11.66 percent, from US $23324.945 million to US $20617.080 million during the period under review. – APP
