Due to a resurgence in demand from Saudi Arabia, Qatar, Kuwait and Bahrain, Pakistani exports to the Middle East climb by 20.82% in July. Alas, the State Bank of Pakistan’s data shows that exports to the United Arab Emirates did drop.
From $2.67 billion the year before to $2.33 billion in FY23, Pakistan’s exports to the Middle East decreased by 12.62 percent. Imports into Pakistan decreased by 7.24 percent in FY23, from $18.85 billion the year before to $17.49 billion.
Exports to Saudi Arabia increased by 43.71 percent in July from $29.67 million to $42.63 million compared to the same month last year. After the UAE in terms of value, Saudi Arabia is Pakistan’s second-largest market in the region. Exports increased 13.1% in FY23, from $420.40 million to $503.40 million.
Pakistan’s exports to Qatar, which included potatoes, onions, guavas, mangoes and other produce, climbed by 4.67 percent to $6.698 million in July from $5.184 million in FY23. Exports from Pakistan to Kuwait climbed by 1.84 percent to $8.189 million in July FY24 from $8.100 million in the same month last year.