Daily Times

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 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 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 US $ 531.123 million to US $ 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 US $ 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 US $9576.107 million to US $9825.020 million, the SBP data said.

On the other hand, imports from the US during the months under review were recorded at US $734.810 million against US $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 US $143.350 million last year to US $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 US $202.797 million in September 2022, SBP data said.

The overall imports decreased by 11.66 per cent, from US $23324.945 million to US $20617.080 million during the period under review.