Pakistan’s exports to the United Kingdom (UK) during October 2020 amounted to $200 million. This figure is 30 percent higher compared to the exports of $154 million in October 2019.
A news report said that according to the Economic Trade and Investment Wing of Pakistan High Commission London, Pakistan’s imports from the UK in October 2020 stood at $48 million. On the import side, this is a decrease of 23 percent, as the figure for imports in October 2019 was $62 million.
The officials also said that the total trade volume between Pakistan and the UK during October 2020 stood at $248 million compared to $216 million achieved in October 2019. This is an increase of 15 percent.
All major export categories registered a substantial increase in the UK markets during October, despite the COVID-19 pandemic and suppressed demand as well as reduced global imports.
The segments that showed an increase include home textile, which grew by 27 percent. Apparel (non-knitted or crotched) exports increased by 16 percent, and articles of apparel, accessories, knit or crochet, improved by 26 percent.
Cereals sector, and vegetables, fruits, nuts, and food preparations grew by 55 percent, while beverages, spirits, and vinegar doubled, with a 100 percent growth.
Some sectors showed reduced exports in October 2020. These included articles of leather, which fell by 19 percent, toys, games, sports requisites (4 percent), and edibles, fruits, nuts, peel of citrus fruits, and melons, which reduced 48 percent.
Pakistan’s exports to the UK increased by 12 percent in the previous three months, July-September 2020. Despite COVID-19, exports for the quarter stood at $465 million as compared to $414 million achieved in the same quarter last year.
Imports from the UK during the same quarter showed a slight decrease on a year-on-year basis, as the figure stood at $152 million for 2020, as compared to $168 million in 2019.