US exports total $9 billion.

 

US exports total $9 billion.

US exports total $9 billion.

WASHINGTON: According to figures revealed on Saturday, Pakistan's yearly exports to the U.S. climbed by 35 percent to $9 billion in 2021–22.

Pakistan supplied $7 billion worth of products and activities to the US last year. Masood Khan, the US diplomat to Pakistan, noted this overall rise of $2 billion over the course of a year and declared, "There is significant scope for additional expansion in our relationship commerce."

Pakistan bought $3 billion worth of commodities from the US in 2021–2022, up from $2.4 billion in 2020–2021. As a result, the overall value of commerce among Pakistan and the United States rose from around $9.5 billion last year to $12 billion this year.

Representative Khan highlighted that the United States has continued to hold the top spot as Pakistan's top export market worldwide.


Read More: 5 Strategies to Treat Acne


"If somehow the shipments continue to increase at the pace of 35 percent per year, the whole volume of trade with Pakistan and the US will reach $20 billion in the next three years," he added. Given the massive potential between two nations, "it would still be a cautious objective."

The significant increase in total shipments from Pakistan, according to the ambassador, "could help to the sustainability of Pakistan's currency and allay anxieties being raised." Confidence in the market is just what we really do need, he continued.

According to a breakdown, products made up $6.8 billion of all shipments to U.S. in FY22, while activities, being included, accounted for $2.2 billion. The IT companies in Pakistan made over $800 million in revenue last year, of that which 60% came from investment firms located in the US, particularly in San Francisco. Pre-seed, seed, and incubating phases of Pakistani entrepreneurs are now being supported by leading American investment firms like Kleiner Perkins, Tiger Global, and Sequia.

According to Envoy Khan, "the focus is on connection and production as well as real outcomes," and he added that initial results will be available shortly.

Salman Sufi, the director of the prime minister's committee for tactical initiatives, met with representatives of the US government in Washington sooner this week to explore a number of measures for boosting mutual commerce.

At the White House, he spoke with Courtney Dunn, the director of the National Security Council, and spoke with him about a variety of topics, such as the restart of regular PIA operations to the US.

The US Agriculture department (USDA) could send a delegation to Karachi to make sure that Pakistani goods are approved domestically, according to discussions between the 2 parties.

US exports total $9 billion.


Comments

Post a Comment

Popular posts from this blog

KIA’s Justification For Not Reducing Car Prices

Image
KIA Lucky Motors has a distinct comment to make as the local auto industry observes firms lowering their automobile prices one after another in response to the rupee's rise versus the dollar. According to a statement from Lucky Motor Company (LMC), the business is unable to lower the cost of its cars. The warning translates as the firm kept prices the same for more than two years then raised them when it appeared they wouldn't be able to survive. "Dear Respected Customers, Since LMC has always prioritized its customers, we have made the historically unheard-of choice to keep our car prices unchanged for more than two years following the introduction of our flagship models, with an average of just one revision over the previous four years. The price rise was unavoidable, despite the fact that businesses have been compelled to adopt a wait-and-see approach to monitor exchange rate fluctuations to determine where prices will go. Due to the significant depreciation of...
Read more

First locally produced electric car launched in Pakistan

Image
  First locally produced electric car launched in Pakistan KARACHI: On Sunday, the very first domestically built electric automobile was unveiled in Karachi courtesy to the joint initiatives of the Dice Foundation, academic institutions, and the corporate sector. On the nation's Independence Day, the inauguration event took place at a nearby hotel. In the latter half of 2024, the public will be able to make reservations for the NUR-E 75 vehicle. The NED University of Engineering and Technology created its rechargeable battery, which has cutting-edge characteristics. The automobile will probably be sold as well. The Sir Syed University of Engineering is creating the adapters for these cars. To shorten charging times, effort is also being done on the creation of speedier adapters. The National College of Arts produced the layout, and all of the vehicle's parts were made in Pakistan (NCA). Upon charging for 8 hours using a 220V hookup, the vehicle can go 210 kilometers at ...
Read more

What Is Sebum? - Acne Treatment

Image
  What Is Sebum? - Acne Treatment Sebum is a component of the oil that covers the outer layer of skin. Perspiration, lipids, and ambient debris are other components of the oil on the skin. Sebum is a major contributor to our poor hygiene. Although sebum doesn't smell by itself, microorganisms that break it down generate smell. Because of this, body scent may be greatly diminished if you routinely use antibiotic soaps to protect your skin free of germs. Sebum gets to the hair follicles. It moisturizes through the hair follicles as well as coating the hair. If hair goes a few days without being bathed, many people get greasy hair. Sebum is the cause of it. Sebum is a Latin word that means "fat." Sebum protects the body from infectious disease, which is what it does. Sebum also slows down the body's normal dehydration through the skin. Acne can be brought on by excess sebum production. Age-related declines in sebum excretion are seen. Especially among wo...
Read more