During the fiscal year 2022–2023 (FY23), Pakistan’s exports to the EU totaled $9.5 billion, according to a formal document made available to ProPakistani.
The Ministry of Commerce’s Trade Diplomacy Wings are tasked with protecting and advancing Pakistan’s commercial interests and ensuring that its goods have the best possible chances of entering international markets. In this regard, the ministry’s most recent report on total commerce between Pakistan and important nations highlighted significant accomplishments and steps made to promote and facilitate trade in the most recent fiscal year.
The document states that the nation’s commerce with the European Union was $14.2 billion in FY23. In FY23, the exports to the EU totaled $9.49 billion while the imports totaled $4.71 billion.
Exports to both North and South America totaled $6.04 billion in the meantime, a significant increase from the $3.74 billion in FY22.
In FY23, Pakistan and Africa had total bilateral trade of $4.44 billion. While imports totaled $2.89 billion, exports were $1.55 billion.
Exports to the Middle East increased by 3.2 percent in FY23 compared to FY22, while imports decreased by 24 percent in FY23.
In FY23, Pakistan’s overall commerce with Afghanistan was $1.86 billion, with $972.43 million in exports and $893.21 million in imports. In FY23, Pakistan’s commerce with Iran was $880.51 million, with no exports and $880.51 million in imports.
According to the document, Pakistan’s exports to Central Asia as a whole increased by 25% in FY23.
