3.13% surplus witnessed in Pak-Italy trade: SBP Aug 10, 2020

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3.13% surplus witnessed in Pak-Italy trade: SBP Aug 10, 2020

ISLAMABAD-Pakistan’s goods and services trade with Italy witnessed surplus of 3.13 percent during fiscal year (2019-20) as compared to the corresponding period of last year.

The overall exports to Italy were recorded at $750.917 million during July-June (2019-20) against exports of $805.399 million during July-June (2018-19), showing negative growth of 6.76 percent, according to State Bank of Pakistan (SBP).

Meanwhile, on year-on-year basis, the exports to Italy also decreased by 14.07 percent by going down from $ 70.468 million during June 2019 against the exports of $60.552 million in June 2020, the SBP data revealed.    

On month-on-month basis the export to Italy however witnessed growth of 24.20 percent in June 2020 as compared to the exports of $48.752 million in May 2020.

Overall Pakistan’s exports to other countries witnessed decline of 7.22 percent during fiscal year under review, from $24.256 billion to $22.504 billion, the data revealed.

On the other hand, the imports from Italy during the period were recorded at $522.069 million against $583.501 million last year, showing decrease of 10.52 percent during the fiscal year under review.

Meanwhile, on year-on-year basis, the imports from Italy increased by 22.13 percent, by going up from  $37.291 million during June 2019 against the exports of $45.544 million in June 2020, the data revealed.    

On month-on-month basis the imports from Italy also witnessed increase of 123.29 percent in June 2020 as compared to the exports of $20.396 million in May 2020.

The overall imports into the country decreased by 18.22 percent, from $51.869 billion to $42.418 billion, according to the data. 

The trade surplus during the period under review was recorded at $228.848 million against $221.898 million during same period of last year, showing 3.13 percent growth.