Saturday, September 7, 2019 General

Pakistan's Exports To US Increased by 6.11% YoY and 24.1% Overall in May 2019permalink

nation.com.pk

The total exports to the USA during July-February (2018-19) were recorded at $2684.394 million against the exports of $2529.610 million during July-February (2017-18), showing an increase of 6.11 percent during the period, according to State Bank of Pakistan (SBP). This was followed by United Kingdom, wherein Pakistan exported goods worth $1171.950 million against the exports of $1161.099 million last year, showing growth of 0.93 percent. China was the at third where Pakistan exported products worth $1150.523 million during the current fiscal year against the exports of $1107.004 million during last fiscal year, showing increase of 3.93 percent, SBP data revealed. Among other countries, Pakistani exports to Germany stood at $869.763 million against $909.251 million during last year, showing decline of 4.34 percent while the exports to Afghanistan were recorded at $777.292 million against $1008.555 million last year, the data revealed.

I guess, it most likely would be due to trade war and tariff on the chinese goods as well as over 30% currency depreciation1 against the US Dollar in the past year, rather than our Govt., doing anything to help the local industries.

Difference in % YoY Monthly Basis. Exports started to trigger after 2017, when Govt decided to devalue Rupee against US Dollar over 50% since 2017. PKRUSD

Further Reading
CEIC / www.ceicdata.com
Pakistan Total Exports Growth

Pakistan’s Total Exports expanded 19.1 % YoY in Jun 2019, compared with an increase of 24.1 % YoY in the previous month. Pakistan’s Total Exports Growth data is updated monthly, available from Dec 1988 to Jun 2019, with an averaged rate of 12.9 %. The data reached an all-time high of 53.4 % in May 1991 and a record low of -19.2 % in Sep 2015. CEIC calculates Total Exports Growth from monthly Total Exports. The Pakistan Bureau of Statistics provides Total Exports, FOB, in local currency.


1. The devaluation of economy / thefrontierpost.com