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Tuesday, February 7, 2023
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HomeBusinessPak-Italy trade sees 104pc surplus

Pak-Italy trade sees 104pc surplus

Pakistan’s goods and services trade with Italy witnessed a surplus of 104.10 percent during the first four months of the current fiscal year (2022-23) as compared to the corresponding period of last year.

Trade surplus during the months under review was recorded at $198.550 million against $97.276 million last year, showing 10.65 percent growth. The overall exports to Italy were recorded at US $401.020 million during July-October this year against exports of US $327.871 million during the same months last year, showing an increase of 22.31 percent, SBP data revealed. Meanwhile, on a year-on-year basis, exports to Italy during October 2022 also increased by 23.63 percent from US $ 75.095 million to US $ 92.842 million.

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Similarly, month-on-month exports to Italy dipped by 16.38 percent during October 2022 as compared with exports of US $ 111.038 million in September 2022, the SBP data said. Overall Pakistan’s exports to all countries witnessed an increase of 2.60 percent in four months, from US $9576.107 million to US $9825.020 million, the SBP data said. On the other hand, imports from Italy during the months under review were recorded at US $202.470 million against US $230.595 million of last year, showing a decrease of 12.19 percent in July-October (2022-23).

Meanwhile, year-on-year imports from Italy during October 2022 also decreased by 33.70 percent from US $48.803 million last year to US $32.353 million. On a month-on-month basis, the imports from Italy decreased by 39.66 percent during October 2022 as compared to the import of US $53.621 million in September 2022, SBP data said. The overall imports decreased by 11.66 percent, from US $23324.945 million to US $20617.080 million during the period under review.

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