Pakistan

Pakistan ranked No. 53 in total trade value through July with a total of $3.52 billion. Exports totaled $1.55 billion and Imports totaled $1.97 billion, a deficit of $422.53 million.

U.S. trade with Pakistan rose to $3.52 billion through July

Pakistan’s trade with the United States rose to $3.52 billion through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 3.54 percent below its total trade during the same time period last year. U.S. exports to Pakistan increased 15.28 percent while U.S. imports from Pakistan fell 14.51 percent. The U.S. deficit with Pakistan was $422.53 million.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Savannah, Ga.; No. 2 Port of Newark; No. 3 Port of Los Angeles; No. 4 Port of Houston; and No. 5 Port of Charleston. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 Port of Savannah, Ga.; No. 3 Port of Los Angeles; No. 4 Port of Virginia and No. 5 Port of Charleston. In the current time period, the top five accounted for 58.71 percent of Pakistan’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Savannah, Ga. fell 7.57 percent to $565.68 million.
    Exports rose 22.16 percent to $293.78 million. Imports fell 26.81 percent to $271.9 million.
  • Trade with No. 2 Port of Newark fell 24.22 percent to $552.35 million.
    Exports fell 30.63 percent to $24.8 million. Imports fell 23.89 percent to $527.55 million.
  • Trade with No. 3 Port of Los Angeles fell 11.18 percent to $343.61 million.
    Exports rose 6.47 percent to $138.39 million. Imports fell 20.11 percent to $205.21 million.
  • Trade with No. 4 Port of Houston rose 28 percent to $312.15 million.
    Exports rose 36.91 percent to $206.14 million. Imports rose 13.62 percent to $106.01 million.
  • Trade with No. 5 Port of Charleston rose 6.64 percent to $289.83 million.
    Exports rose 34.77 percent to $92.77 million. Imports fell 2.9 percent to $197.07 million.

Pakistan ranked No. 53 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 56.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Pakistan by value through July were the categories of Cotton; Scrap iron, steel; Soybeans; LNG, other petroleum gases; and Defense-related aircraft, parts, respectively. They accounted for 60.63 percent of total exports to Pakistan.

The value of the top five categories of U.S. imports from Pakistan –– Linens for bed, bath and kitchen; Women’s or girls’ suits, not knit; Misc. articles made from textile materials; Sweaters, pullovers, vests, knit or crocheted; and Men’s or boys’ slacks, suits, not knit –– accounted for 47.25 percent of all inbound shipments.

Looking more closely at U.S. exports to Pakistan:

  • Cotton rose 38.99 percent compared to last year to $593.08 million.
  • Scrap iron, steel rose 32.05 percent compared to last year to $159.08 million.
  • Soybeans rose 26.49 percent compared to last year to $90.16 million.
  • LNG, other petroleum gases rose 61.19 percent compared to last year to $53.74 million.
  • Defense-related aircraft, parts rose 50.28 percent compared to last year to $41.45 million.

Looking more closely at U.S. imports from Pakistan:

  • Linens for bed, bath and kitchen fell 17.49 percent compared to last year to $477.13 million.
  • Women’s or girls’ suits, not knit fell 9.61 percent compared to last year to $139.44 million.
  • Misc. articles made from textile materials fell 17.08 percent compared to last year to $112.04 million.
  • Sweaters, pullovers, vests, knit or crocheted fell 26.87 percent compared to last year to $106.8 million.
  • Men’s or boys’ slacks, suits, not knit fell 24.63 percent compared to last year to $94.84 million.

In the latest annual figures available, Pakistan recorded $6.54 billion in trade with the United States. Total U.S. exports to Pakistan were $ 2.62 billion and imports from Pakistan were $3.92 billion. The U.S. deficit with Pakistan was $1.3 billion.