Pakistan’s exports to the Middle East dipped 5.57 per cent on a year-on-year basis to $951.78 million in the first five months of FY23 from $1.008bn mainly led by a substantial decline in exports to the United Arab Emirates.
The exports to the region saw a mixed trend with an increase to Saudi Arabia, Qatar and Bahrain, while a decline to other countries of the region, according to data compiled by the State Bank of Pakistan.
The UAE has emerged as the leading country for Pakistan’s export of goods as it saw a decline of 11.04pc to $614.88m in 5MFY23 from $691.23m over the corresponding months of last year. Nearly 65pc of the total exports to the region go alone to the UAE market.
Out of seven UAE states, the bulk of exports was destined for Dubai amounting to $557.79m during the five months this fiscal year against $570.53m in the corresponding months last year, showing a decline of 2.23pc.