ISLAMABAD: The United States maintained its position as the top export destination for Pakistani products, while China remains the leading source of imports for Pakistan during the first five months of the current financial year, ARY News reported on Tuesday.
Sources said that during the first five months of the current financial year, Pakistani exports to the US surpassed imports, with a total bilateral trade of $3.5 billion recorded between July and November 2024.
According to recent data, during the said period, Pakistani exports to the US reached $2.45 billion with imports totalling $594.2 million, marking a 14 per cent increase in exports.
In contrast, Pakistan’s trade with China told a different story as Pakistani exports to China were recorded as lower than imports.
Sources said that during the same period, the total bilateral trade between Pakistan and China stood at $7.19 billion, with Pakistani exports to China amounting to only $1.12 billion.
It highlights a significant trade deficit, with imports from China totalling $6.7 billion, resulting in a 14% decrease in exports.
Read More: US, China, UK top 3 destinations of Pakistani exports
This has been a prevailing trend for years which showed an imbalance in Pak-China imports and exports.
In November, according to a report The United States (US) remained the top export destination of Pakistani products during the first four months of the current financial year 2024-25, followed by China and the United Kingdom (UK).
Total exports to the US during July-October 2024-25 were recorded at US $2037.270 million against the exports of US $1862.086 million during July-October 2023-24, showing an increase of 9.40 percent, according to the State Bank of Pakistan (SBP).
This was followed by China, wherein Pakistan exported goods worth US $813.441 million against the exports of US $952.441 million last year, showing a decrease of 14.59 percent.
