Arsalan Ali

Exports from Pakistan to Scandinavian countries surged by 12.5% in the first quarter (July-September) of the current financial year (2022-23) compared to the corresponding period of the previous fiscal year, WealthPK reports.

Data from the State Bank of Pakistan (SBP) shows that exports from Pakistan to Denmark, Norway, and Sweden reached $136.740 million in July-September FY23.

SBP/WealthPK research

During the period under consideration, trade with Scandinavian countries was in favour of Pakistan and surplus was recorded at $52.417 million.

Exports from Pakistan to Denmark increased by 1% to $22.699 million in September 2022, up from $22.428 million in September 2021. As compared to the previous month of the same fiscal year, exports declined by 24%. In the first three months of FY23, exports to Denmark reached $75.310 million compared to $59.887 million in the same period of the previous year, showing a growth of 26%.

The trade surplus with Denmark was recorded at $57.224 million in the first quarter of FY23.

SBP/WealthPK research

Data from the UN Comtrade database shows that major export items from Pakistan to Denmark include textile products, toys, games, sports requisites, articles of leather, animal guts, harness, travel goods, cereals, optical, medical apparatus, and cotton.

Imports from Denmark include pharmaceutical products, machinery, nuclear reactors, boilers, iron and steel, optical, photo, medical apparatus, electric and electronic equipment.

Pakistan’s exports to Norway reached $4.963 million in September 2022 compared to $4.708 million in September 2021, representing a 5.4% growth.

However, in July-September FY23, exports to Norway were $15.187 million compared to $16.092 million in the corresponding period of the previous fiscal year. Pakistan’s trade surplus with Norway was recorded at $6.450 million in July-September FY23

SBP/WealthPK research

Major goods export from Pakistan to Norway include textile products, articles of leather, animal guts, harness, travel goods, cereals, edible fruits, and cotton. Additionally, major import items from Norway are iron and steel and aluminium. Exports from Pakistan to Sweden declined by 7.5% and stayed at $13.835 million in September 2022 as against $14.957 million in September 2021.

In the first three months of FY23, exports to Sweden reached $46.243 million compared to $45.554 million in the corresponding period of the previous fiscal year, showing a 1.5% increase.

The trade deficit with Sweden stood at $11.257 million in the first three months of the current fiscal.

SBP/WealthPK research

Major export items from Pakistan to Sweden include textile products and cereals.

Credit : Independent News Pakistan-WealthPk