KARACHI – Though there is has been a consistent decline in trade with the United States in the last three years despite close state ties, Pakistan’s exports to 11 South Eastern states of the US has shown a striking fall of over six percent during the last three months.
According to sources in the Pakistani Consulate General in Houston, Texas, regional imports from Pakistan have continuously fallen for several reasons, one of which was the decrease in the spending power and recessionary movement in the Southeastern half of the US.
According to a report sent by the commercial counselor in the US, Pakistani exports to various States in the region in September 2010 was recorded $94.984 million against the export of $100.643 million in the previous month with a constriction being observed.
As trade volume between the two coalition partners in the international war against terror, has declined from $5.243 billion to $4.493 billion during the last three years, a reduction in bilateral trade is an eye opener for the governments of both Islamabad and Washington, sources said.
According to the report, Pakistan’s exports to Southeastern ports including Houston-Galveston, TX, New Orleans, LA, Miami, FL, Dallas-Fort Worth, TX, El Paso, TX, Tampa, FL, and Mobile, Al have shown a negative trend of 31.2 percent, 27.0 percent, 8.7 percent, 16.6 percent, 18.3 percent, 39.7 percent and 100 percent, respectively, during July to September 2010.
While only ports of Charleston, SC, Savannah, GA and Laredo, TX exhibited little growth coming around five percent. On the other hand a negative growth of over 22 percent in the imports from Pakistan in the same ports has also been observed during the same three month period, last year. It is worth mentioning here that the Southeastern United States, colloquially referred to as the Southeast, is the eastern portion of the Southern United States.
It is one of the most populous regions in the United States. While a major shift of both exports and imports of the country from the US to other countries, most prominently, China, was another major factor in the flagging trade volume between Pakistan and US. While national exporters are demanding special attention in the case of their exports, Islamabad, despite of being a frontline state operating in support of the United States in its war against terrorism, is yet to consolidate any gains in the US market in term of its exports.
According to sources, the decline emerged after an elected government took charge of economic policies of the country. Trade volume with US is apparently since the Financial Year 2008. Trade, both exports and imports, with US in FY 2008 were to the tune of $5.243 billion which plunged to $4.7 billion in FY09 and $4.493 billion in FY10.
