Pakistan’s exports to the Middle East declined 5.57 per cent on a year-on-year basis to $951.78 million in the first five months of FY23 from $1.008bn principally led by a substantial decline in exports to the United Arab Emirates.
The exports to the region experienced a mixed trend with an increase to Saudi Arabia, Qatar and Bahrain, while a fall to other nations of the region, according to data published by the State Bank of Pakistan.
The UAE has emerged as the biggest country for Pakistan’s export of commodities as it saw a fall of 11.04pc to $614.88m in 5MFY23 from $691.23m over the corresponding months of last year. Nearly 65pc of the overall exports to the area go alone to the UAE market.
Out of seven UAE states, the bulk of exports was bound for Dubai totaling to $557.79m over the five months this fiscal year against $570.53m in the comparable months last year, showing a fall of 2.23pc.
Pakistan’s main export products to UAE include grains, bovine carcasses and half carcasses, men’s/boys’ cotton ensembles, guavas, mangoes, etc.
Likewise, Pakistan’s top sectoral exports to the UAE are cereals, pieces of apparel and clothing and meat and edible offal etc.
The second biggest market for Pakistan’s exports in terms of value is Saudi Arabia. However, the exports witnessed a growth of 12.24pc to $184.01m in 5MFY23 from $163.93m in the preceding year.
Pakistan’s exports to Saudi Arabia have stagnated at roughly $500m in the last decade. It clearly reveals that no major growth was seen in the market access as compared to the UAE.
Pakistan’s biggest exports to Saudi Arabia include rice (semi- or entirely milled), bovine carcasses and half carcasses, tents, textile products, etc.
Pakistan’s exports to Qatar climbed 10.57pc to $83.44m in 5MFY23 from $75.46m over the previous year, which comprises grains, bovine carcasses, potatoes, onions, guavas, mangoes, etc.
In the sports sector, the export of footballs was up 11.74pc in July-November this year from a year before. Pakistan is the official football supplier to the FIFA World Cup 2022 staged in November in Doha, Qatar.
Pakistan’s export to Kuwait registered a negative growth of 9.23pc to $48.44m in 5MFY23 from $53.16m over the previous year. Top exports to Kuwait include bovine carcasses, fish, tents, and rice, etc.
The biggest sectoral exports to Kuwait include meat and edible meat offal, followed by other made-up textiles.
The export to Bahrain registered a positive growth of 27.77pc to $31.01m in 5MFY23 from $24.27m during the previous year. Pakistan’s top export products to Bahrain include is rice, cotton yarn, bovine carcasses, textured yarn and printing ink, etc.
