Pakistan’s exports to the United States in January 2022 stood at $570 million, indicating a 25 percent increase as compared to $456 million in the corresponding month last year.
According to data released by the Ministry of Commerce, Pakistan’s export market has expanded with a major increase in exports to Italy, Bangladesh China, the United States, Spain, the United Arab Emirates, Sri Lanka, Malaysia, and Turkey. In January 2022, Pakistan captured more space in the international exports market by diversifying its products.
Official data reveals that Pakistan’s exports to China were $189 million in January 2021 which increased to $230 million in January 2022 — a 21 percent growth. The exports to Italy were $61 million in January last year and they increased to $118 million in January 2022, marking 93 percent growth.
The country’s exports to Spain were $78 million in January 2021 which increased to $113 million in January 2022, meaning a 44 percent growth. The exports to the United Arab Emirates were $83 million in January 2021 which increased to $104 million in January 2022 i.e. registered 24 percent growth. The exports to Bangladesh were $56 million in January 2021 which increased to $90 million in January 2022, and thus registered a 60 percent growth. The exports to Malaysia were $21 million in January 2021 which increased to $47 million in January 2022, showing a 124 percent growth.
The exports to Sri Lanka were $26 million in January 2021 and increased to $45 million in January 2022, marking a 74 percent growth. The exports to Turkey were $18 million in January 2021 which increased to $34 million in January 2022 — 89 percent growth.
However, Pakistan’s exports to some countries also witnessed a decline during the period under review. The exports to the United Kingdom were $156 million in January 2021 which decreased to $149 million in January 2022, i.e., a five percent decline. The exports to Saudi Arabia were $41 million in January 2021 which decreased to $40 million in January 2022, i.e. a four percent decline. The xports to Afghanistan were $78 million in January 2021 which decreased by 66 percent to $27 million in January 2022.
The exports to Russian Federation were $26 million in January 2021 which decreased by 23 percent to $20 million in January 2022. To Sweden, the exports were $15 million in January 2021 which decreased by 28 percent to $11 million in January 2022.
The Ministry of Commerce data showed that in January 2022, the exports increased by 18.7 percent to USD 2.546 billion as compared to USD 2.145 billion in Jan 2021. For the first seven months of this FY (Jul-Jan 2022), the exports grew by 24 percent to USD 17.671 billion as compared to USD 14.255 billion in Jul-Jan 2021. A declining trend has been noticed in the monthly imports. As compared to imports in December 2021 which stood at USD 7.580 billion the imports in Jan 2022 have declined by -22% to USD 5.908 billion. These were USD billion 4.803 billion in Jan 2021.
According to the official data, men’s garments exports increased by 19 percent from $357 million in January 2021 to $423 million in January 2022, home textile increased by 15 percent from $342 million to $393 million, rice exports increased by 13 percent from $194 million in January 2021 to $219 million in January 2022, cotton fabric increased by 43 percent from $151 million to $216 million.
However, cement exports declined by 18 percent during the period under review from $21 million to $17 million, pharmaceutical products exports declined by 26 percent from $23 million to $17 million during the period under review.
Source: Pro Pakistani