ISLAMABAD:Pakistan’s goods and services trade with Italy witnessed a surplus of 158.11 percent during the first five 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 $256.423 million against $99.345 million last year, showing 158.11 percent growth.
The overall exports to Italy were recorded at US $491.636 million during July-November (2022-23) against exports of US $406.750 million during July- November (2021-22), showing growth of 20.86 percent, SBP data revealed.
On year-to-year basis, the exports to Italy also increased 14.87 percent from $78.879 million in November 2022, against the exports of $90.616 million in November 2021.
Meanwhile, on month-on-month basis, the exports to Italy however dipped by 02 percent during November 2022 as compared to the exports of $92.482 million in October 2022, the SBP data revealed.
Overall Pakistan’s exports to other countries witnessed a decrease of 2.01 percent in first five months, from US $ 12.313 billion to US $ 12.065 billion, the SBP data revealed.
On the other hand, the imports from Italy into the country during the period under review was recorded at US $ 235.213 million against US $307.405 million last year, showing decline of 23.48 percent in July- November (2022-23).
On year-on year basis, the import for Italy witnessed also decreased by 57.24 percent from US $76.810 million in November 2021, against the imports of US $32.843 million in November 2022.
On month-on-month basis, the imports from Italy into country however increased by 1.28 percent during November 2022, as compared to the imports of US $32.253 million during October 2022, according to the data.
The overall imports into the country witnessed decrease of 16.15 percent, from $29.663 billion to US $ 24.872 billion, according to the data.