ISLAMABAD: Exports to the Middle East bounced back with a growth of 20.82 per cent in July led by a demand revival from Saudi Arabia, Qatar, Kuwait and Bahrain.

However, the exports to the United Arab Emirates decreased, according to data compiled by the State Bank of Pakistan.

In FY23, Pakistan’s exports to the Middle East fell by 12.62pc to $2.332bn compared to $2.669bn in the preceding year. Pakistan witnessed a 7.24pc decline in imports totalling $17.488bn in FY23, down from $18.853bn in the previous year.

Exports to Saudi Arabia saw an increase of 43.71pc in July to $42.634m from $29.666m over the corresponding month of last year. Saudi Arabia is Pakistan’s second biggest market in the region in terms of value after the UAE. In FY23, the exports jumped 13.1pc to $503.40m from $420.40m in the preceding fiscal year.

Exports to Saudi Arabia have stagnated at around $500m in the last decade due to no expansion in market access as compared to the UAE. 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 increased 4.67pc to $6.698m in July from $5.184m during FY23, which include rice, bovine carcasses, potatoes, onions, guavas, mangoes, etc. Pakistan exports to Kuwait increased by 1.84pc to $8.189m during July FY24 from $8.100m over the corresponding month of last year.

Nearly 62pc of total exports to the region go to the UAE market alone. However, it suffered a decline of 20.23pc to $1.474bn in FY23 from $1.848bn over the corresponding months FY22.

Published in Dawn, September 17th, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

More than words
04 Apr, 2025

More than words

WITH Balochistan in tumult, the political class needs to heal the province’s wounds with sagacity and...
Poor publicity
04 Apr, 2025

Poor publicity

FORTUNE does not seem to be favouring the PTI — at least not yet. With the party’s founder confined from public...
Party pooper
04 Apr, 2025

Party pooper

INDIA’s role of a spoilsport is tiresome. From pulling books from shelves, such as Wendy Doniger’s The Hindus: ...
Canal unrest
Updated 03 Apr, 2025

Canal unrest

With rising water scarcity in Indus system, it is crucial to move towards a consensus-driven policymaking process.
Iran-US tension
03 Apr, 2025

Iran-US tension

THE Trump administration’s threats aimed at Iran do not bode well for global peace, and unless Washington changes...
Flights to history
03 Apr, 2025

Flights to history

MOHENJODARO could have been the forgotten gold we desperately need. Instead, this 5,000-year-old well of antiquity ...