Arsalan Ali

The export of various items from Pakistan to six European countries grew by 8.41% during the first seven months of the current financial year compared to the corresponding period of the previous fiscal, WealthPK reports. According to the data released by the Trade Development Authority of Pakistan (TDAP), the country’s export to Germany, the Netherlands, Spain, Italy, Belgium and France reached a remarkable $4181.08 million during the first seven months of the current fiscal, up from $3856.71 million in the same period of last year, representing a growth of 8.41%. On a year-on-year basis, exports to these countries increased by 10% and remained at $626 million in January 2023 against $569 million in the same month of last year.

In the period under review, Germany remained the top destination of Pakistan’s export items, followed by the Netherlands, Spain, Italy, Belgium and France. According to the UN Comtrade database, textile products are major export items from Pakistan to European countries.

The data available with WealthPK shows that textile exports during the first seven months of the current fiscal decreased by 7.77% and dipped to $10.08 billion as compared to $10.93 billion during the corresponding period of last year. In January 2023, textile exports dropped by 12% to reach $1.36 billion compared to $1.55 billion in the same month of the previous year.

Exports from Pakistan to Germany decreased by 1.5% on a year-on-year basis and dipped to $129 million in January 2023, down from $131 million in the same month of the previous year. Exports to Germany increased by 1.66% in the first seven months of the ongoing fiscal and reached $998.58 million, up from $982.18 million in the same period of the previous financial year. Major export items from Pakistan to Germany include other made textile articles, sets, worn clothing, articles of apparel, knit or crocheted, articles of apparel, not knit or crocheted, articles of leather, animal gut, harness, travel goods and cotton.

In January 2023, Pakistan’s exports to the Netherlands grew by 37% and reached $151 million, compared to $110 million in the same month of the previous fiscal. Total exports from Pakistan to the Netherlands grew by 13% in the current fiscal and reached $994.1 million, up from $881.3 million during the first seven months of the previous financial year. Other made textile articles, set, worn clothing, articles of apparel not knit or crocheted, articles of apparel knit or crocheted, cotton and cereals are Pakistan’s top export items to the Netherlands.

The country’s exports to Spain increased by 14% and reached $129 million in January 2023, up from $113 million in the same month of the previous year. The total volume of exports from Pakistan to Spain was recorded at $829.16 million in the first seven months of the ongoing fiscal, showing an increase of 18% compared to $700.53 million in the same period of the previous year. Major export items from Pakistan to Spain include apparel not knitted or crocheted, knitted or crocheted apparel, other textiles, clothing sets, worn clothing and cotton.

Exports to Italy fell 3.3% on a year-on-year basis and dipped to $114 million in January 2023 from $118 million in the same month of the previous fiscal. Exports to Italy increased by 12% in the ongoing fiscal and reached $656.15 million, up from $583.8 million during the first seven months of the previous financial year.

Major export items from Pakistan to Italy include other made textile articles, sets, worn clothing, cotton, articles of apparel, not knit or crocheted, articles of apparel knit or crocheted and cereal. Pakistan’s exports to Belgium and France in January 2023 were recorded at $50 million and $53 million, respectively, compared to $56 million and $41 million in the same month of the preceding year.

Exports to Belgium reached $403.83 million in the ongoing fiscal as compared to $431.67 million during the first seven months of the previous financial year, showing a decrease of 6%. Exports to France from Pakistan increased by 8% in the current fiscal and reached $299.26 million as compared to $277.23 million during the same period of the previous financial year.

Major exports item from Pakistan to Belgium and France include other made textile articles, sets, worn clothing, articles of apparel, knit or crocheted, articles of apparel, not knit or crocheted, cereal and cotton, according to the data, available with WealthPK.

Credit: Independent News Pakistan-WealthPk