Arsalan Ali

Pakistan’s exports to its top five European trading partners increased by 3% during the first eight months (July-February) of the current fiscal year (2022-23) compared to the corresponding period of the last fiscal year.Data available from Trade Development Authority of Pakistan (TDAP) shows that Pakistan's exports to Germany, the Netherlands, Spain, Italy, and Belgium reached $4.381 billion during July-February FY23, compared to $4.253 billion during the corresponding period of the last year.

However, on a year-over-year (YoY) basis, a decline of 25.8% was witnessed during February 2023, as exports to these countries totalled $499.8 million compared to $673.8 million during February 2022.

During the period under review, Germany was the top recipient of Pakistani goods, followed by the Netherlands, Spain, Italy, and Belgium. Data from the UN Comtrade database shows that textile products are major export items from Pakistan to the European countries.

Pakistan’s exports to Germany have experienced a significant decline of 34.7% on a YoY basis. In February 2023, the exports to Germany amounted to $117 million, compared to $179.2 million during the same month of the previous year. Furthermore, the exports to Germany declined by 3.9% during the first eight months of the current fiscal year, reaching $1.115 billion, down from $1.161 billion during the same period last year.

Pakistan's major export items to Germany include various textile articles such as worn clothing, sets, and other made textile articles, articles of apparel, not knit or crocheted, as well as those made of leather, animal gut, harness, travel goods, and cotton.

Pakistan's exports to the Netherlands in February 2023 declined 37.9% to $113.1 million from $182.3 million during the same month the previous year. However, Pakistan’s total exports to the Netherlands grew 4% to , $1.107 billion during July-February FY23 from $1.063 billion during the corresponding period of last year.

Pakistan's exports to the Netherlands are dominated by several textile products, including other made textile articles, sets, worn clothing, articles of apparel not knit or crocheted, and those that are knit or crocheted. Additionally, cotton and cereals also contribute to the country's exports to the Netherlands. Pakistan’s exports to Spain declined by 4.4% to $115.9 million in February 2023 compared to $121.3 million during the same month of the previous year.

Pakistan’s exports to Spain witnessed a significant overall increase of 15% during the first eight months of this fiscal year, reaching $945.06 million, up from $821.83 million during the same period last year. Pakistan’s exports to Spain include various textile products, such as apparel that is not knitted or crocheted, as well as knitted or crocheted apparel. Other important exports include textiles, clothing sets, worn clothing, and cotton.

Pakistan’s exports to Italy fell by 20% during February 2023, reaching $98.7 million, down from $123.6 million during the same month of the previous year. Despite this decline, Pakistan’s total exports to Italy grew by 6.7% between July-February FY23, reaching $754.85 million, up from $707.4 million during the same period the previous year.

Pakistan's major export items to Italy include a range of textile products, such as other made textile articles, sets, and worn clothing, as well as cotton and articles of apparel, both knit or crocheted and not knit or crocheted. Additionally, cereal is also among the top exports to Italy from Pakistan.

In February 2023, Pakistan's exports to Belgium dropped 18.2% to $55.1 million from $67.4 million during the corresponding period of the previous year. From July to February FY23, Pakistan’s total exports to Belgium amounted to $458.93 million, which is 8% lower than $499.07 million during the same period of the previous fiscal year. Pakistan's major exports to Belgium include various textile articles, such as sets, worn clothing, apparel (both knit and crocheted), as well as cereals and cotton.

Credit: Independent News Pakistan-WealthPk