ISLAMABAD: Pakistan’s exports to the United States witnessed a substantial increase of 23 percent during the last fiscal year, the country’s envoy in Washington Masood Khan said on Saturday, adding it was the first time the quantum of Pakistani goods to the US market crossed the $5-billion mark.
The US has traditionally been Pakistan’s major economic partner, and their bilateral trade has steadily increased in recent years.
Quoting a statement released by the Pakistani diplomatic mission in the US, the Associated Press of Pakistan news agency said the country’s exports had reached $6.16 billion until the end of May.
The figures for June, it said, were yet to come and would further enhance the volume of Pakistan’s total exports to the US.
“The United States is an important trading partner and the single largest export destination for Pakistan,” Ambassador Khan said in an official statement. “The spurt in our exports is a very promising trend.”
He said Pakistan’s exports to the US in the IT and services sectors had also crossed $2 billion, adding the cumulative volume of exports should therefore be more than $8 billion.
“Pakistan’s tech sector, supported mainly by the United States’ entrepreneurs, has shown extraordinary results,” Khan noted. “It is poised to continue on its positive trajectory.”
The Pakistani ambassador hoped the bilateral partnership between the two countries in the tech sector would further strengthen in the coming years.
He also pointed out that there was only a marginal increase in American imports, though Pakistan’s exports to the US had witnessed a “huge rise.”