• About
  • Advertise
  • Contact
Monday, August 8, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Business

Pakistan’s exports to the United States surge to $9 billion

bySuneela Zulfiqar
July 30, 2022
in Business, Economy, World
Reading Time: 2 mins read
0
Pakistan’s exports to the United States surge to $9 billion
877
SHARES
5.6k
VIEWS
Share on FacebookShare on Twitter

Pakistan’s Ambassador to the United States, Masood Khan has stated that Pakistan’s exports to the United States have increased year-on-year, with a total volume of $9 billion at an annual growth rate of 35 percent.

He went on to say that the volume of exports last year was $7 billion, meaning that there was a net increase of $2 billion in the past year.

RelatedPosts

Pakistan to soon bridge external financing gap of $4 billion: SBP

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Pakistan’s trade with ASEAN topped $11b in 2022

In 2021-22, the embassy press release said, the imports from the United States have increased significantly, totaling $3 billion compared to last year’s $2.4 billion. This boost in trade volume has overall improved Pakistan-US trade relations to $12 billion, compared to last year’s nearly $9.5 billion.

“We have a big trade surplus with the US”, Ambassador Masood Khan remarked.

The Minister for Commerce said that the rapid expansion of Pakistani exports to the United States was setting a precedent for the country’s trade relations with other nations, with the U.S. remaining Pakistan’s leading export destination.

“If exports continue to grow at a rate of 35% per year, Pakistan-US trade volume would surpass $20 billion within three years. This would be a modest goal, considering the potential of both markets”, he said.

The ambassador said that the impressive performance of Pakistani exports in the US market should boost confidence in domestic markets and amongst foreign investors.

Besides, he said, the remarkable growth of overall Pakistani exports should contribute to the stability of Pakistan’s economy and assuage fears being stoked.

“What we need the most is market confidence”, Ambassador Masood Khan said.

Out of the total volume of $9 billion in Pakistani exports, goods constitute $6.8 billions while the component of services, including export of IT is $2.2 billion, according to the press release. Pakistan exported to the US the IT products worth nearly $1.4 billion. The IT exports of June 2022 have yet to be included.

In the past twelve months, Pakistan-based tech startups have generated approximately $800 million, sixty percent of which has been funded by US-based Venture Capital firms concentrated in the San Francisco area. Prominent American Venture Capital firms such as Kleiner Perkins, Tiger Global, and Sequia have begun to support Pakistan’s successful startups at the pre-seed, seed, and incubation stages.

Ambassador Masood Khan said that in recent months, Pakistan and the United States have been working to increase trade and investment between the two countries, as well as to improve cooperation in the health, agriculture and tech sectors.

“There is a focus on connectivity and productivity, as well as tangible results”, he said, adding that we can expect to see some positive results soon.

Tags: latestMasood KhanPakistanUnited States
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Pakistan to soon bridge external financing gap of $4 billion: SBP

Pakistan to soon bridge external financing gap of $4 billion: SBP

In the face of intense pressure on foreign currency reserves, Pakistan will soon close its $4 billion shortfall in external...

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

RDA With inflows at $188 million, which is significantly less than in June, the inflows under the Roshan Digital Account...

Next Post
Power Shortfall increases to 6,200 Megawatts

Power Shortfall increases to 6,200 Megawatts

Recommended

Arshad Nadeem gets international scholarship for Paris Olympics 2024

Arshad Nadeem gets international scholarship for Paris Olympics 2024

CM Punjab directs to start work on Ring Road Project, Nullah Lai Expressway

CM Punjab directs to start work on Ring Road Project, Nullah Lai Expressway

Pakistan’s Shehroze Kashif becomes youngest climber to summit Gasherbrum II

Pakistan’s Shehroze Kashif becomes youngest climber to summit Gasherbrum II

Finance Minister launches Pakistan’s first digital Mutual Fund aggregator “EMLAAK Financials”

Finance Minister launches Pakistan’s first digital Mutual Fund aggregator “EMLAAK Financials”

Pakistan to soon bridge external financing gap of $4 billion: SBP

Pakistan to soon bridge external financing gap of $4 billion: SBP

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Roshan Digital Account Inflows Sink to Lowest Level in 17 Months

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In