ISLAMABAD: Pakistan’s exports to Europe grew by 12.72 percent to $2.888 billion during the first quarter (July-September) of the current fiscal year against $2.562 billion in the corresponding period of the last year.
Despite a decline of 5.44% in exports, the United Kingdom (UK) remained the largest market in Europe with exports value of $519.87 million during the period under review. Exports to the UK were recorded $549.82 million during the first quarter of the last fiscal year as per the ministry of commerce data.
Exports to Germany rose to $455.77 million in July-September 2022-23 from $406.29 million during the corresponding months of the last year, with an increase of 12.17%, making it the second-largest exports’ destination for Pakistan in the European Continent.
With a surge of 14.8%, export to the Netherlands registered $377.28 million during the quarter under review against $328.654 million in the corresponding period of the last year. Goods worth $324.58 million were shipped to Spain during Q1 this year as compared to $225.08 million in the same period of 2021, posting a significant growth of 44.20%.
Exports to Italy rose to $308.17 million during the period under review from $252.77 million in the corresponding quarter of the preceding year, showing an increase of 12.91%. Italy registered as the fifth-largest market for Pakistan’s goods in July-September.
Exports to Belgium, France, Denmark, Sweden and Switzerland were recorded $197.68nmillion, $153.5 million, $75.31million, $46.24 million, and $51.04 million respectively during July-September.
Exports to Europe in Q1 also grew by 8.15% in September 2022 against the same month of the last year. Exports in September registered $981.53 million against $907.52 million during the corresponding month of the last year. –INP
