Pak’s exports to Italy increase 34% to $651m

Pak’s exports to Italy increase 34% to 1m

ISLAMABAD (APP): Pakistan’s exports of goods and services to Italy witnessed an increase of 34.69 percent during the first eight months of fiscal year (2021-22) as compared to the exports of corresponding period of last year.
The overall exports to Italy were recorded at $651.691 million during July-February (2021-22) against exports of $483.830 million during July- February (2020-21), showing growth of 34.69 percent, according to State Bank of Pakistan (SBP).
Meanwhile, on year-on-year basis, the exports to Italy also increased by 18.88 percent by going up from $ 68.825 million during February 2021 against the exports of $81.826 million in February 2022, the SBP data revealed.
On month-on-month basis the export to Italy also witnessed nominal increase of 0.80 percent in February 2022 as compared to the exports of $81.176 million in January 2021. Overall Pakistan’s exports to other countries witnessed an increase of 28.11 percent in eight months, from US $16.092 billion to US $ 20.616 billion.
On the other hand, the imports from Italy during the period under review were recorded at $534.571 million against $347.776 million last year, showing growth of 53.71 percent during the first eight months of fiscal year 2021-22.
Meanwhile, on year-on-year basis, the imports from Italy increased by 40.66 percent, by going up from $41.462 million during February 2021 against the exports of $58.323 million in February 2022, the data revealed. On month-on-month basis the imports from Italy however witnessed decrease of 40.93 percent in February 2022 as compared to the exports of $98.745 million in January 2022.
The overall imports into the country increased by 49.11 percent, from US $32.123 billion to US $47.901 billion.

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