Exports to US cross $5bn mark 1st time in the last fiscal year

ISLAMABAD: Adviser to the Prime Minister on Trade and Commerce, Abdul Razak Dawood has said that Pakistan’s exports to the United States increased by 39 percent in the last fiscal year 2020-21 to cross the $5 billion mark for the first time in history.
In a series of tweets on Monday, the advisor said that Pakistan’s exports to the United States during the last fiscal year surged 39 percent to $5.2 billion as compared to $3.7 billion during the fiscal year 2019-20, showing an increase of around $1.45 billion.
“This is the first time in history that exports to the US have crossed the $5 billion mark,” Dawood said.
He commended the efforts of exporters and trade & investment officers in the US. He urges the trade & investment officers to provide all possible facilitation to exporters for enhancing the country’s exports further.
Last week, Abdul Razak Dawood said that Pakistan’s exports to the United Kingdom increased by 33 percent to $2.025 billion during the just concluded fiscal year 2020-21 as compared to $1.526 billion during the financial year 2019-20. Pakistan’s exports of goods grew by 18.11 percent to $25.268 billion during the fiscal year 2020-21. The exports of services for the year are projected to be $5.9 billion. The cumulative exports of goods and services during the fiscal year 2020-21 will, therefore, cross the $31 billion mark.
Export of goods grew by 18 percent to $25.3 billion during the fiscal year 2020-21, according to the data shared by the Ministry of Commerce on Thursday last, adding the exports in June 2021 were also the highest in any month in the past and remained at $2.7 billion. – TLTP