Pakistan Witnesses 2. 68 Per Cent Surplus In Trade With Germany

(@fidahassanain)

Pakistan witnesses 2. 68 per cent surplus in trade with Germany

State Bank of Pakistan’s Data shows that overall exports to Germany were recorded at $1511.227 million during July-June (2020-21) against exports of $1302.991 million during July-June (2019-20), showing growth of 15.98 percent.

ISLAMABAD: (UrduPoint/Pakistan Point News-August 5th, 2021) Pakistan’s trade of goods and services with Germany recorded surplus of 2.68 percent during fiscal year (2020-21) as compared to the corresponding period of last year

State Bank of Pakistan’s Data shows that overall exports to Germany were recorded at $1511.227 million during July-June (2020-21) against exports of $1302.991 million during July-June (2019-20), showing growth of 15.98 percent.

According to the State Bank of Pakistan, the exports to Germany during June 2021 also increased by 31.87 percent, from $110.212 million as against the exports of $145.342 million year-to-year basis while the exports to Germany rose by 20.53 percent during June 2021 as compared to the exports of $120.577 million in May 202 month-on-month basis.

Overall Pakistan’s exports to other countries witnessed growth of 13.72 percent during FY 2020-21, from $22.536 billion to $25.629 billion, the SBP data showed.

On the other hand, the imports from Germany into the country during the period were recorded at $1148.035 million against $949.280 million last year, showing increase of 20.93 percent during FY 2020-21.

Meanwhile, on year-to-year basis, the imports from Germany during June 2021 also rose by 60.74 percent, from $80.843 million last year to $129.955 million.

On month-on-month basis, the import from Germany increased by 5.50 percent during June 2021 when compared to the import of $123.180 million in May 2021, the SBP data revealed.

The trade surplus during the period under review was recorded at $363.192 million against $353.711 million during same period of last year, showing 2.68 percent growth.

The overall imports into the country increased by 23.23 percent, from $43.645 billion to $53.784 billion, according to the data.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.