Pakistan’s Ambassador to the United States, Masood Khan has said that Pakistan’s exports to the United States have marked year-on-year rise, with a total volume of $9b at an annual growth rate of 35pc.
Pointing out that the volume of the exports last year was $7b, the Pakistani envoy said, the net increase in the last one year was $2b. In 2021-22, the embassy press release said, the imports from the United States have been $3b compared to last year’s $2.4b, boosting the total Pakistan-US trade volume to $12b, compared to last year’s nearly $9.5b. “We have a big trade surplus with the US”, Ambassador Masood Khan remarked.
The impressive growth of Pakistani exports to the United States, he said, was a trendsetter for the country’s other export destinations around the world, with the U.S. maintaining its primacy as Pakistan’s largest export destination. “If the exports continue to grow at the rate of 35pc per year, in the next three years overall Pakistan-US trade volume would cross $20b, which would still be a modest goal given the immense potential that is there between the two markets”, he said.
The impressive performance of Pakistani exports in the US market, the ambassador said, 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...
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