Pakistan’s Merchandise Exports to North America Rise by 9%
Pakistan’s merchandise exports to North America have recorded a growth of nearly 9% in the first four months of the current fiscal year (FY25) as against the same period last fiscal year. The growth mainly comes from a significant surge in exports to the United States, particularly in textiles and clothing.
The State Bank of Pakistan data reveals that exports to North America had declined by 8.42% in FY24 from $5.93 billion to $5.43 billion. However, the positive trend in this year’s recovery has been mainly contributed to by the US.
In the first four months of FY25, Pakistan’s exports to the US have reached $2.037 billion, which is up by 9.39% from $1.862 billion during the same months last year. This growth is mainly attributed to increased textile exports following a slowdown in exports from other countries like Bangladesh and Vietnam.
On the other hand, exports to Canada grew modestly by 2.90%, amounting to $131.79 million in the first four months of FY25, compared to $128.07 million during the same period last year. However, exports to Canada had decreased by 8.77% in FY24.
Imports from North America also have increased by 28%, at $819.27 million for FY25 compared to last year’s $639.61 million. The US remains the largest source of these imports.
Exports to Other Regions
Exports to Latin America Central America and South America also did not show consistency from North America. There was an increase of 27% in exports to Latin America, which amounts to $19.04 million during the first four months of FY25 as compared to last year, $14.95 million. Exports to Central America were just about unchanged, with a slight decrease of 0.092%.
South American exports increase. marginally by 0.32% amounting to $111.71 million in the first four months of FY25 but export. to Argentina and Uruguay fell by significant margins.
Imported from South America recorded major percentage increases, 86.83%, amounting to $296.66 million in FY25, versus $158.79 million last year.
Conclusion
Exports to North America have improved positively during this fiscal year with increased textile exports from Pakistan to the United States. Although other regions of the world were not seen as doing as well this year, North America is still important to the export of Pakistan goods.
