Pakistan’s exports to North America witnessed a notable rebound, rising by 9.76 percent to $4.273 billion during the first eight months of the current fiscal year, up from $3.893 billion in the same period last year.
This growth was largely fueled by a significant increase in textile and clothing shipments to the United States, which accounted for 94 percent of the total exports to the region.
According to data from the State Bank of Pakistan, this uptick follows a two-year decline in export performance. In fiscal year 2024, overall exports to North America fell by 8.42 percent to $5.432 billion, compared to $5.93 billion in FY23.
Exports to the US alone had previously dropped sharply by 23.28 percent in FY23. It should be noted that the Trump administration had imposed a 29pc tariff on products from Pakistan last week.
In the current fiscal year, exports to the US increased by 10.47 percent, reaching $4.009 billion during the first eight months, up from $3.629 billion in the same period last year.
However, growth in exports to Canada remained marginal, edging up by only 0.56 percent to $262.676 million. On a full-year basis, exports to Canada declined by 8.77 percent in FY24.
