Pakistan’s exports to Italy increase 40.14pc during FY2021-22

ISLAMABAD – Pakistani export to Italy witnessed an increase of 40.14 percent during the twelve months of fiscal year (2021-22) as compared to the corresponding period of last year. The overall exports to Italy were recorded at $1085.675 million during July-June (2021-22) against exports of $774.658 million during July-June (2020-21), showing growth of 40.14 percent, according to State Bank of Pakistan (SBP). Meanwhile, on year-on-year basis, the exports to Italy also increased by 61.85 percent by going up from $74.887 million during June 2021 against the exports of $121.206 million in June 2022, the SBP data revealed. On month-on-month basis, the export to Italy also witnessed surge of 11.77 percent in June 2022 as compared to the exports of $108.433 million in May 2022. Overall Pakistan’s exports to all countries also witnessed an increase of 26.56 percent in twelve months, from $25638.974 million to $32450.087 million, the SBP data said. On the other hand, the imports from Italy during the period were recorded at $770.439 million against $568.022 million last year, showing growth of 35.63 percent during the fiscal year under review. Meanwhile, on year-on-year basis, the imports from Italy however decreased by 28.39 percent, by going down from $73.938 million during June 2021 against the exports of $52.944 million in June 2022, the data revealed. On month-on-month basis, the imports from Italy witnessed an increase of 16.28 percent in June 2022 as compared to the exports of $45.530 million in May 2022. The overall imports increased by 32.75 percent, from $54272.920 million to $72.048 million during the period under review. The trade surplus during the period under review was recorded at $315.236 million against $206.636 million during same period of last year, showing 52.55 percent growth.

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