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China emerges as top trading partner for Pakistan as exports to high-priced western markets decline

ISLAMABAD (PEN) : In the first half of the 2023/24 fiscal year, Pakistan experienced a decline in exports to high-priced European and North American markets, with China remaining its top trading partner, importing 66 percent more goods from Pakistan during this period. The United States, traditionally a significant market for Pakistan, did not rank among the top 25 destinations for Pakistani exports. However, exports to the United Kingdom saw a six percent growth, while exports to various European Union countries, such as Germany, Netherlands, Italy, Spain, France, and Belgium, experienced negative growth.