Pakistan’s exports to United States increase by 23% to $6.16 billion

exports to United States

Pakistan’s Ambassador to the United States Masood Khan unveiled that Pakistan’s exports to the US showed an upward hill during former Prime Minister Imran Khan’s tenure.

Ironically, it came at a time when Imran Khan was blaming the US of backing “the change in government” in the country.

Masood Khan said Pakistan’s year-on-year exports to the US rose 23% and the total volume, for the first time, crossed $5 billion during the last fiscal year — mostly during the preceding government of Imran Khan.

Khan’s accusations that he was ousted from the government as part of a plan orchestrated by the US for pursuing an autonomous foreign policy were apparently in stark compared to the increasing exports to the US.

Pakistan’s exports to China crossed $1.605 billion in five months of 2022

During the previous financial year (July-June 2021-22), the ambassador to the United States stated, that Pakistan’s exports increased to $6.16 billion in the July-May period, whereas the data for June, which were yet to come, would further boost the overall volume of exports.

“The US is an important trading partner and the largest export destination for Pakistan. The spurt in our exports is a very promising trend,” he commented.

During the July-May tenure, Pakistan’s imports from the US grew to $2.72 billion from $2.4 billion, he mentioned, adding “imports have increased only marginally whereas there has been a huge rise in our exports”.

The ambassador further revealed that Pakistan’s exports to the United States in the services and IT sectors have crossed $2 billion. “Cumulatively, the total volume of exports should be more than $8 billion, including services and IT.”

Besides, Pakistan’s tech division, supported mostly by US entrepreneurs, has shown extraordinary results. “It is poised to continue the positive trajectory,” the ambassador said.

He pointed out that in recent months, Pakistan’s technology start-ups have invested and earned a billion dollars, continuing that the digital enterprises were fast to become global and preparing for exponential growth.

“Pak-US partnership in the technology sector will strengthen further in the years to come.”

Earlier, Pakistan stressed the requirement for closer trade and investment bonds with the US.

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