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38% surplus witnessed in Pak-Italy trade: SBP

Written by The Frontier Post

ISLAMABAD (APP): Pakistan’s goods and services trade with Italy witnessed a surplus of 38.11 percent during the first four months of fiscal year (2021-22) as compared to the corresponding period of last year.
The overall exports to Italy were recorded at $327.871 million during July-October (2021-22) against exports of $230.179 million during July- October (2020-21), showing growth of 42.44 percent, according to State Bank of Pakistan (SBP).
Meanwhile, on year-on-year basis, the exports to Italy also increased by 20.51 percent by going up from $ 62.312 million during October 2020 against the exports of $75.095 million in October 2021, the SBP data revealed.
On month-on-month basis the export to Italy however witnessed decline of 18.85 percent in October 2021 as compared to the exports of $92.549 million in September 2021.
Overall Pakistan’s exports to other countries witnessed an increase of 32.21 percent during the period under review, from $7.322 billion to $9.681 billion, the data revealed.
On the other hand, the imports from Italy during the period were recorded at $230.569 million against $159.764 million last year, showing growth of 44.31 percent during the fiscal year under review.
Meanwhile, on year-on-year basis, the imports from Italy increased by 36.05 percent, by going up from $35.869 million during October 2020 against the exports of $48.803 million in October 2021, the data revealed.
On month-on-month basis the imports from Italy also witnessed increase of 11.17 percent in October 2021 as compared to the exports of $43.896 million in September 2021.
The trade surplus during the period under review was recorded at $97.302 million against $70.415 million during same period of last year, showing 38.11 percent growth.

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