Pakistan trade with Germany witnesses surplus of 2.68pc

Pakistan trade with Germany witnesses surplus of 2.68pc during the financial year 2020-21.

According to State Bank of Pakistan (SBP, goods and services trade with Germany witnessed surplus of 2.68 percent during fiscal year (2020-21).

It compared the figures to the corresponding period of last year.

Pakistan trade with Germany witnesses surplus

Furthermore, it noted overall exports to Germany at $1511.227 million during July-June (2020-21) against exports of $1302.991 million during July-June (2019-20), showing growth of 15.98 percent,

Meanwhile, on year-to-year basis, the exports to Germany during June 2021 also increased by 31.87 percent, from $110.212 million as against the exports of $145.342 million.

On month-on-month basis, the exports to Germany rose by 20.53 percent during June 2021 as compared to the exports of $120.577 million in May 2021, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed growth of 13.72 percent to $25.629 billion during FY 2020-21.

It stood at $22.536 billion previously, as per the SBP data.

On the other hand, the imports from Germany into the country during the period recorded at $1148.035 million against $949.280 million last year.

That showed increase of 20.93 percent during FY 2020-21.

Imports from Germany during June 2021 also rose

Meanwhile, on year-to-year basis, the imports from Germany during June 2021 also rose by 60.74 percent, from $80.843 million last year to $129.955 million.

On month-on-month basis, the import from Germany increased by 5.50 percent during June 2021 when compared to the import of $123.180 million in May 2021, the SBP data revealed.

The overall imports into the country increased by 23.23 percent, from $43.645 billion to $53.784 billion, according to the data.

The trade surplus during the period under review was recorded at $363.192 million against $353.711 million during same period of last year, showing 2.68 percent growth.

GTV