Pakistan’s goods and services trade with the United States (US) witnessed a surplus of 10.65 per cent during the first four months of the current fiscal year (2022-23) as compared to the corresponding period of last year.
Trade surplus during the months under review was recorded at $1397.879 million against $1263.332 million last year, showing 10.65 per cent growth. The overall exports to the US were recorded at $2132.689 million during July-October this year against exports of $2096.444 million during the same months last year, showing an increase of 1.72 per cent, SBP data revealed. Meanwhile, on a year-on-year basis, exports to the US during October 2022 however decreased by 10.50 per cent from $ 531.123 million to $475.330 million.
Similarly, month-on-month exports to the US dipped by 11.06 per cent during October 2022 as compared with exports of $ 534.477 million in September 2022, the SBP data said. Overall Pakistan’s exports to all countries witnessed an increase of 2.60 per cent in four months, from $9576.107 million to $9825.020 million, the SBP data said. On the other hand, imports from the US during the months under review were recorded at $734.810 million against $833.112 million of last year, showing a decrease of 11.80 per cent in July-October (2022-23).
Meanwhile, year-on-year imports from the US during October 2022 however increased by 9.60 per cent from $143.350 million last year to $157.129 million. On month-on-month basis, the imports from the US decreased by 22.52 per cent during October 2022 as compared to the import of $202.797 million in September 2022, SBP data said. The overall imports decreased by 11.66 per cent, from $23324.945 million to $20617.080 million during the period under review.