US remains top export destination for Pakistan in July 2024

In July 2024, the United States emerged as Pakistan’s leading export destination, with shipments totalling $476.02 million, marking an 8.2 per cent increase compared to the $439.89 million recorded in the same month last year, according to data released by the State Bank of Pakistan.

The United Kingdom followed as the second-largest market for Pakistani goods, with exports reaching $183.3 million. This represents a 6.1 per cent rise from the $172.72 million exported to the UK in July 2023.

The United Arab Emirates, specifically Dubai, ranked third, with export revenue amounting to $176.18 million—a significant 41.1 per cent surge from the $124.82 million earned during the same period last year.

China stood as the fourth-largest export destination for Pakistan, with goods worth $160.1 million shipped, reflecting a 5.8 per cent year-on-year (YoY) growth.

Germany also saw an increase in Pakistani exports, with shipments totalling $135.46 million, a 9.5 per cent YoY rise. Similarly, exports to the Netherlands grew by 15.9 per cent YoY, reaching $124.55 million.

However, not all markets saw growth. Exports to Spain decreased by 14.4 per cent YoY, with revenue standing at $106.71 million.

On a month-on-month (MoM) basis, exports to the United States saw a 7.3 per cent increase compared to June 2024, while exports to the UK rose by 20.9 per cent MoM. Exports to Dubai also saw a MoM increase of 6.9 per cent.