ISLAMABAD: Pakistan’s exports to the Middle East shrank 14.18 per cent year-on-year to $1.912 billion in the first 10 months of FY23, mainly driven by a substantial decline in exports to the United Arab Emirates.
The exports to the region saw a mixed trend with an increase to Saudi Arabia, while a decline to other countries of the region, data compiled by the State Bank of Pakistan showed on Thursday.
The UAE has emerged as the leading country for Pakistan’s export of goods as nearly 63pc of the total exports to the region go to the UAE market alone, however, it suffered a decline of 22.19pc to $1.206bn in 10MFY23 from $1.550 over the corresponding months last year (FY22).
Out of seven UAE states, the bulk of export was destined for Dubai amounting to $1.087bn during 10MFY23 against $1.325 in the corresponding months last year, showing a decline of 17.96pc.
Pakistan’s top export products to UAE include rice, bovine carcasses and half carcasses, men’s/boys’ cotton ensembles, guavas, mangoes, etc.
Similarly, Pakistan’s top sectoral exports to the UAE include cereals, articles of apparel and clothing, meat and edible offal etc.
The second biggest market for Pakistan’s exports in terms of value is Saudi Arabia. However, the exports witnessed an increase of 17pc to $404.767m in 10MFY23 from $345.720m in the preceding fiscal year.
Pakistan’s exports to Saudi Arabia have stagnated at around $500m in the last decade, showing that no significant growth was seen in the market access as compared to the UAE.
Pakistan’s top exports to Saudi Arabia include rice (semi- or wholly milled), bovine carcasses and half carcasses, tents, textile materials, etc.
Pakistan’s exports to Qatar dipped 13.09pc to $141.175m in 10MFY23 from $162.442m during 10MFY22, which include rice, bovine carcasses, potatoes, onions, guavas, mangoes, etc. However, one of the most exported goods to Qatar during 10MFY23 remained footballs as Pakistan was the official football supplier to the FIFA World Cup 2022 held in November in Doha, Qatar.
Pakistan exports to Kuwait fell by 6.12pc to $105.564m during the July-April FY23 from $112.448m over the corresponding months of last year. Top exports to Kuwait include bovine carcasses, seafood, tents, rice, etc.
The top sectoral exports to Kuwait include meat and edible meat offal, followed by other made-up textiles.
Published in Dawn, May 19th, 2023
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