Jawad Ahmed ISLAMABAD, May 30 (WealthPK-INP): Pakistan's exports to Europe climbed by 20.6% to $9.07 billion in the first 10 months of the current fiscal year 2021-22, up from $7.52 billion in the same period of the previous fiscal year, reports WealthPK. According to the data published by the State Bank of Pakistan (SBP), Pakistan earned $636.5 million from Eastern Europe, $2.456 billion from Northern Europe, $2.196 billion from Southern Europe, and $3.781 billion from Western Europe during the period in question. Exports to all of these regions increased by 9.1%, 10.2%, 38.4%, and 21.3%, respectively. Month on month comparison shows a slight decline in exports in April this year compared to the previous month. Exports to Western Europe fell by $400.1 million in April 2022 compared to $439.8 million in March 2022. Moreover, exports to Southern Europe came down from $285.1 million to $253.9 million, while exports to Northern Europe declined to $250 million from $271.4 million during the corresponding month. Meanwhile, exports to Eastern Europe also decreased in March compared to the previous month of same year. [caption id="attachment_67685" align="aligncenter" width="500"] Source: State Bank of Pakistan (SBP)/ WealthPK Research[/caption] On the other hand, imports from Europe totaled $6.99 billion in July-April 2021-22, up from $5.726 billion in the corresponding period of the previous year 2020-21, indicating a 22% increase. During July-April FY21-22, imports from Western Europe rose by 16.96% to $3.475 billion from $2.971 billion in the previous year. Comparing the same period of the previous year to the first 10 months of FY21-22, imports from Southern Europe increased by 54.7% from $0.68 billion to $1.052 billion, from Northern Europe by 17.2% from $1.054 billion to $1.235 billion, and from Eastern Europe by 20.2% from $1.021 billion to $1.227 billion. According to SBP records, imports from all the European countries fell in April 2022 compared to the previous month of the current year. Pakistan imported $534.71 million worth of goods from all regions of Europe in April 2022, down 4.36% from $692.08 million in March 2022. [caption id="attachment_67684" align="aligncenter" width="500"] Source: State Bank of Pakistan (SBP)/ WealthPK Research[/caption] European countries are major trading partners of Pakistan, whose markets account for a large portion of its imports and exports. Pakistan earns sizable foreign exchange from European nations by exporting commodities under the generalized scheme of preferences (GSP) plus status. It accounted for 14.3% of the country’s total trade in 2020 and absorbed 28% of Pakistan’s total exports. It is worth mentioning that textiles and clothes dominate Pakistan’s exports to European countries. According to the Pakistan Business Council (PBC) statistics, exports of textiles and clothing accounted for 75.2% of overall exports to the European nations in 2020. The majority of Pakistan's imports from Europe are machinery and transport equipment, as well as chemicals.