Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y 55 SECTION-1 2024 greater market access will be crucial for sustaining and increasing export volumes in the years ahead. Table 46: Top 20 Pakistan’s Commodities Exported to USA COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO USA 5,292 5,176 2.2 Knitwear 1,470 1,598 -8 Readymade Garments 1,059 1,024 3.5 Bed Wear 581 550 5.6 Textiles Made-up 439 439 -0.1 Towels 368 335 10 Cotton Cloth 144 141 1.6 Surgical Goods & Medical Instru ments 104 102 1.2 Plastic Materials 102 29 244.6 Leather Gloves 88 87 0.2 Leather Garments 41 54 -23.2 Carpets, Rugs & Mats 35 42 -16.2 Rubber Tyres & Tubes 33 14 133.1 Basmati Rice 31 31 1.5 Footballs 25 26 -5.8 Cotton Yarn 20 19 4.4 Cutlery 20 22 -10 Sports Gloves 20 23 -13.7 Spices 17 16 7.3 Silk & Synthetic Textile 14 13 9.9 Yarn Other than Cotton Yarn 12 15 -15.8 Other Commodities 670 596 12.6 1.1.11. Pakistan’s Exports to China China has emerged as one of Pakistan’s largest trading partners, with both nations benefiting from strong economic ties. The fiscal year 2024 saw significant trends in Pakistan’s export dynamics to China, highlighting the critical role this relationship plays in Pakistan’s external trade. During the fiscal year 2024, Pakistan’s exports to China grew steadily despite global economic volatility. Total exports to China were estimated to be around $2,574 billion, an increase of 15.8 percent compared to FY 2023. This growth was primarily driven by agricultural products, textiles, and certain industrial goods.Agriculture remains one of the most important sectors in Pakistan’s trade with China. In FY 2024, agricultural exports, especially rice, seafood and fruits like mangoes and citrus, contributed a significant portion to overall exports. While Pakistan has seen a steady growth in its exports to China, challenges remain. Trade imbalances are a major concern, as China’s exports to Pakistan outpace Pakistan’s exports by a significant margin. Additionally, competition from other Southeast Asian countries continue to challenge Pakistan’s position in the Chinese market. The future of Pakistan’s exports to China looks promising, particularly in sectors such as IT services, food processing, and renewable energy equipment. Additionally, under the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC), there are greater possibilities for industrial collaboration, which could lead to further integration of Pakistan’s economy into Chinese value chains. Table 47: Top 20 Pakistan’s Commodities Exported to China COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO CHINA 2,574 2,222 15.8 Cotton Yarn 648 446 45.2 Oil Seeds, Nuts and kernels 286 92 211.5 Fish & Fish Preparations 181 226 -20.2 Knitwear 58 66 -11.9 Cotton Cloth 46 52 -10.8 Non-Basmati Rice 35 114 -69.4 Petroleum Top Naphtha 29
Guwar & Guwar Products 22
Leather Tanned 18 22 -17.1 Raw Cotton 17
Surgical Goods & Medical Instru ments 16
Footballs 12 8 43.8 Readymade Garments 8 7 19.4 Bed Wear 5 3 36.8 Basmati Rice 5 3 38.6 Petroleum Products 4
Fruits 4 13 -65.8 Plastic Materials 4 18 -80.3 Cutlery 3 0 3043.2 Meat & Meat Products 2
OTHER COMMODITIES 1,170 1,150 1.8 1.1.12. Pakistan’s Exports to the UK The United Kingdom remains one of Pakistan’s most significant trading partners within Europe. In the fiscal year 2024 (July 2023 to June 2024), Pakistan’s exports to the UK displayed steady growth, driven by key sectors like textiles, garments, and food products. Pakistan’s exports to the UK in FY 2024 amounted to US$2.019 billion, reflecting a 4.3 percent increase compared to the previous fiscal year. Despite global economic uncertainty and fluctuating demand in European markets, Pakistan’s export sectors, particularly textiles and agricultural
56 Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y products, managed to maintain strong market share in the UK. Textiles continued to dominate exports to the UK, accounting for 78.5 Percent of the total export value. Within this category, both garments and home textiles (such as bed linens and towels) saw healthy growth. Pakistan’s premium cotton products and competitive pricing have enabled the country to maintain a strong presence in the UK market. Table 48: Top 20 Pakistan’s Commodities Exported to UK COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO UK 2,019 1,935 4.3 Knitwear 619 569 8.9 Bed Wear 460 424 8.5 Readymade Garments 300 318 -5.5 Towels 103 106 -2.8 Non-Basmati Rice 93 74 25.2 Textiles Made-up 54 55 -2.1 Basmati 45 32 39.8 Surgical Goods & Medical Instru ments 40 37 7.3 Cotton Cloth 33 39 -16.8 Fruits 30 24 24.6 Silk & Synthetic Textile 17 22 -21 Leather Garments 15 17 -9.9 Footballs 12 17 -30.8 Spices 10 10 6.5 Vegetables 10 8 22.9 Leather Gloves 9 8 13.9 Leather Footwear 5 6 -18.1 Sports Gloves 4 4 -14.3 Fish & Fishery Products 3 2 79.4 Plastic Materials 3 7 -57.9 OTHER COMMODITIES 154 157 -1.6 Opportunities: 1. Diversification of Products: Expanding into higher-value-added products such as organic textiles and processed foods could boost exports. 2. E-commerce Growth: With the rise of e-commerce in the UK, there is potential for Pakistani exporters to tap into the direct-to- consumer market. 1.1.13. Pakistan’s Exports to the UAE The United Arab Emirates (UAE) is one of Pakistan’s most important trading partners, both in terms of exports and imports. Situated in close geographical proximity, the UAE has long been a major destination for Pakistan’s diverse range of goods, including textiles, food products, and other manufactured goods. In the fiscal year 2024 (FY 2024), Pakistan’s exports to the UAE continued to grow, contributing significantly to its overall export performance in the Middle East. During FY 2024, Pakistan’s exports to the UAE reached US$1.581 billion, showing a significant increase of 13.6 percent compared to the previous fiscal year. The export growth was driven by sectors such as agricultural products, textiles, and petroleum. However, Pakistan’s traditional export sectors like food products, seafood, and meat also performed well in the UAE market. Table 49: Top 20 Pakistan’s Commodities Exported to UAE COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO UAE 1,581 1,391 13.6 Meat & Meat Products 201 194 3.6 Petroleum Products 192 17 1059 Basmati Rice 150 139 7.8 Readymade Garments 131 101 30.8 Knitwear 98 74 32.5 Vegetables 90 59 52.4 Fruits 87 71 21.4 Silk & Synthetic Textile 60 56 6.3 Non-Basmati Rice 48 64 -25.2 Plastic Materials 41 29 44.2 Bed Wear 29 30 -5.7 Cotton Cloth 27 32 -17.2 Fish & Fish Preparations 25 25 -2.1 Tents and Canvas Product 24 15 56 Surgical Goods & Medical Instruments 23 23 -0.8 Towels 18 26 -33.8 Footballs 16 8 90.8 Spices 12 9 27.2 Tobacco 9 23 -60.3 Leather Gloves 8 7 11.3 OTHER COMMODITIES 295 388 -24.1 Several sectors have consistently performed well in Pakistan’s export basket to the UAE. While agricultural goods and textiles dominate, Pakistan also exports petroleum, plastic, and surgical goods, diversifying its export portfolio. Looking forward, Pakistan’s exports to the UAE are expected to continue growing, especially as the UAE increases its role as a global trade hub. The Dubai Expo 2020, which concluded in March 2022, also opened up new opportunities for business collaborations and trade between Pakistan and the UAE, which are expected to bear fruit in the coming years. Additionally, efforts to diversify exports, particularly into processed food,
Annual Analytical Report on External Trade Statistics of Pakistan 2 0 2 4 F Y 57 SECTION-1 2024 pharmaceuticals, and higher-value textiles, could help Pakistan further increase its trade share with the UAE. 1.1.14. Pakistan’s Exports to the Afghanistan Pakistan and Afghanistan share a long-standing trade relationship, primarily driven by geographical proximity, cultural ties, and mutual dependence on key commodities. During FY 2024, Pakistan’s exports to Afghanistan reflected both challenges and opportunities, influenced by political, security, and economic factors in the region. Despite these challenges, Afghanistan remained one of Pakistan’s largest export destinations, particularly for essential goods such as food products, cement, and textiles. Table 50: Top 20 Pakistan’s Commodities Exported to Afghanistan COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO AFGHANISTAN 1,140 977 16.7 Non-Basmati Rice 261 134 95 Pharmaceutical Products 130
Basmati 83 7 1007.6 Vegetables 78 86 -9.8 Cement 67
Fruits 63 49 28.1 Transport Equipment 22 65 -65.4 Plastic Materials 18 185 -90.1 Rubber Tyres & Tubes 11 2 457.3 Sugar 6 11 -44.9 Machinery Specialized for Particular Industry 5 13 -60.6 Tents and Canvas Product 4 11 -67.8 Leather Footwear 3
Readymade Garments 2 1 100.8 Fish & Fish Preparations 2 2 44 Electric Fans 1 40 -96.3 Cotton Cloth 1 3 -56.7 Oil Seeds, Nuts and kernels 1 2 -33.4 Textiles Made-up 1 1 2.1 Auto Parts & Accessories 1 24 -95.3 OTHER COMMODITIES 378 340 11.3 During the fiscal year 2024 (July 2023 to June 2024), Pakistan’s exports to Afghanistan were valued at approximately US$1.140 billion, showing an increase of 16.7 percent compared to the previous year. Pakistan’s export portfolio to Afghanistan is diversified but heavily reliant on essential goods such as food items, construction materials, and petroleum products. Agricultural goods like rice, fruits, and vegetables are critical for meeting Afghanistan’s food security needs, while cement and other construction materials support infrastructure projects in the country. Looking forward, Pakistan’s trade with Afghanistan will largely depend on the stabilization of the Afghan economy, regional security, and improved border management. If these issues are addressed, Pakistan could further solidify its position as Afghanistan’s primary trade partner. Additionally, focusing on expanding trade in value-added products and energy resources could help Pakistan diversify its exports and enhance the overall trade relationship. 1.1.15. Exports to Indonesia In a remarkable display of trade performance, Pakistan witnessed a staggering 275.4% growth in exports to Indonesia during the fiscal year (FY) 2024. This dramatic surge highlights the strengthening economic relationship between the two countries and underscores the potential for further bilateral trade expansion. Table 51: Top Pakistan’s Commodities Exported to Indonesia COMMODITY EXPORT VALUE (MILLION US$) FY 2024 FY 2023 % Change TOTAL EXPORT TO INDONESIA 535 142 275.4 Non-Basmati Rice 435 36 1124.1 Tobacco 21
0 Cotton Cloth 18 4 296.2 Leather Tanned 8 0 7954.3 Raw Cotton 7 37 -81.7 Fruits 6 16 -63.8 Fish & Fish Preparations 5 36 -84.9 Surgical Goods & Medical Instru ments 3 0 8508.7 Silk & Synthetic Textile 3 3 17.2 Knitwear 3 0 1050.5 Cotton Yarn 2 1 62.5 Readymade Garments 2
0 OTHER COMMODITIES 22 9 146.9 According to recent data, Pakistan’s total exports to Indonesia skyrocketed from modest figures to an unprecedented high. Key contributors to this growth were agricultural products, with non-basmati rice leading the charge. Exports of this commodity alone experienced an astonishing rise from US$ 36 million to a staggering US$ 435 million, marking one of the most significant improvements in Pakistan’s trade performance with Indonesia. This rapid growth is largely attributed to Indonesia’s increasing demand for Pakistani rice, which has gained a strong foothold in the Indonesian market due to its competitive pricing and high quality. Beyond rice, Pakistan’s export portfolio to Indonesia includes a