Pakistan’s exports to US dwindle owing to gas shortage: Daily Times

By Tanveer Ahmed

KARACHI: Pakistan lost considerable share of its export to United States of America (USA) during the current financial year owing to host of reasons, sources in the export sector told Daily Times.

Textile and clothing was the main sector, which lost its share in the USA market as according to exporters and officials, the share of export to USA fell below 20 percent in total export volume compared to 22 to 24 percent in the previous years.

The sliding export to USA market has been causing concerns in the export sector of the country for quite some time as high cost of production coupled with high tariff structure on Pakistani export has been depriving the country from this high priced and lucrative American market.

However, the report of USA chamber of commerce a couple of days to ease the tariff slabs and provide greater market access to Pakistani exports has been seen as an encouraging move, which if implemented would definitely help Pakistan to regain its lost share in this market.

Although, global economic recession, which hurt USA severely contributed in dwindling Pakistani export to this market, other factors too made the situation tough for the local exports.

For more on this article, please click on the following link: Pakistan’s exports to US dwindle owing to gas shortage: Daily Times