WASHINGTON: Pakistan’s Ambassador to the United States, Masood Khan has said that Pakistan’s exports to the US have marked a year-on-year rise, with a total volume of $9 billion at an annual growth rate of 35 percent.
In a statement issued by the embassy, the Pakistani envoy pointed out that the volume of exports last year was $7 billion, adding that the net increase in the last one year was $2 billion.
In 2021-22, the embassy statement said, the imports from the United States have been $3 billion compared to last year’s $2.4 billion, boosting the total Pakistan-US trade volume to $12 billion, compared to last year’s nearly $9.5 billion.
He further said that the impressive growth of Pakistani exports to the United States was a trendsetter for the country’s other export destinations around the world, with the US maintaining its primacy as Pakistan’s largest export destination.
“If the exports continue to grow at the rate of 35% per year, in the next three years overall Pakistan-US trade volume would cross $20 billion, which would still be a modest goal given the immense potential that is there between the two markets”, he added.
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...
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