ISLAMABAD: Pakistan’s exports to the Middle East increased from $2.298 billion in the previous fiscal year, to $2.664 billion in FY 2022, a growth of 15.92 percent.
This substantial hike in Pakistani exports to the Middle East is primarily due to the country’s growing exports to the United Arab Emirates (UAE).
Pakistan’s exports to the region saw a very perplexed trend in FY 2022. According to data accumulated by the State Bank of Pakistan (SBP), Pakistani exports to the Kingdom of Saudi Arabia and Kuwait witnessed a decline, meanwhile an increase was seen in Pakistan’s export products to other countries of the region.
As mentioned earlier, this sharp hike in Pakistan’s exports to the Middle East is primarily fuelled by the country’s rising exports to the UAE, as the country was found to be the lead importer of Pakistani goods in the region.
Pakistani exports to UAE grew from $1.488 billion in the previous fiscal year, to $1.843 billion in FY22, an increase of 23.85 percent. Moreover, a staggering 70 percent of Pakistan’s export products in the Middle East go to the UAE alone.
The UAE imports products such as rice, bovine carcasses and half carcasses, men’s cotton ensembles, mangoes and mangosteens from Pakistan.
The second biggest importer of Pakistani goods in the Middle East is the Kingdom of Saudi Arabia. However, the country’s exports to the Kingdom witnessed a decline in FY22, as Pakistan had exported products worth $466.062 million to KSA in the previous year as compared to $420.288 million this year, a decline of 9.82 percent.
The Kingdom imports products such as rice, bovine and half carcasses, tents and textile material from Pakistan.