ISLAMABAD: Exports to the Middle East bounced back with a growth of 28.98 per cent to $1.257 billion in the first five months of the current fiscal year against $974.50m from a year ago.
A surge in demand for Pakistani products was observed from countries like the United Arab Emirates, Saudi Arabia and Kuwait, according to data compiled by the State Bank of Pakistan. However, the exports to Qatar decreased during the period under review.
The government has recently signed a free trade agreement with the Gulf Cooperation Council (GCC) countries which will further facilitate Pakistan’s exports to the region.
In FY23, Pakistan’s exports to the Middle East shrank 12.62pc to $2.332bn from $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 50pc in July-November of FY24 to $275.65m from $183.73m over the corresponding months 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 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…
Source: https://www.dawn.com/
Monday, May 4, 2026
