In the first ten months of FY23, Pakistan experienced a decline in exports by 14.18 percent, reaching $1.912 billion. This decrease can be attributed to a significant reduction in exports to the United Arab Emirates (UAE).
The UAE holds the top position as the destination for Pakistan’s exports, accounting for approximately 63 percent of the country’s total exports. However, in the first ten months of FY23, exports to the UAE saw a decline of 22.19 percent, dropping to $1.206 billion from $1.550 billion during the same period in the previous fiscal year (FY22).
Out of the seven states in the UAE, a major portion of exports was directed towards Dubai, which amounted to $1.087 billion in the first ten months of FY23. This reflects a decline of 17.96 percent compared to $1.325 billion during the same months of the previous fiscal year.
Pakistan’s top exports to the UAE include rice, bovine carcasses, and half carcasses, guavas, and men’s cotton outfits. Similarly, key exports to the UAE from Pakistan consist of cereals, clothing and apparel, meat, and edible offal.
Saudi Arabia ranks as the second-largest market for Pakistan’s exports in terms of value. However, there has been a positive growth of 17 percent in exports to Saudi Arabia, reaching $404.767 million in the first ten months of FY23 compared to $345.720 million in the previous fiscal year.
Despite this increase, Pakistan’s exports to Saudi Arabia have remained around $500 million over the past decade, indicating a lack of significant growth in market access compared to the UAE.
Pakistan’s exports to Qatar witnessed a decrease of 13.09 percent, amounting to $141.175 million in the first ten months of FY23, compared to $162.442 million during the same period in the previous fiscal year. The exported items included rice, bovine carcasses, potatoes, onions, guavas, mangoes, and others. Notably, footballs were one of the most exported goods to Qatar during this period as Pakistan served as the official football supplier for the FIFA World Cup 2022 held in Doha, Qatar.
Similarly, Pakistan’s exports to Kuwait declined by 6.12 percent, totaling $105.564 million from July to April of FY23, compared to $112.448 million during the corresponding months of the previous year. Key exports to Kuwait consisted of bovine carcasses, seafood, tents, rice, and other goods.
