Pakistan’s trade with Germany posts surplus of 2.68%: SBP

ISLAMABAD: Pakistan’s goods and services trade with Germany witnessed a surplus of 2.68 per cent during the fiscal year 2020/21, compared with the corresponding period of the last year, the central bank reported.

The overall exports to Germany were recorded at $1.511 billion during July-June 2020/21 against the exports of $1.302 billion during July-June 2019/20, showing a growth of 15.98 per cent, the data of the State Bank of Pakistan (SBP) showed.

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

On a month-on-month basis, the exports to Germany rose 20.53 per cent during June 2021, compared with the exports of $120.577 million in May 2021, the data revealed.

Overall, Pakistan’s exports to other countries witnessed a growth of 13.72 per cent during FY 2020/21 to $25.629 billion from $22.536 billion, it said.

Similarly, imports from Germany during the period under review were recorded at $1.148 billion against $949.280 million last year, showing an increase of 20.93 per cent during FY 2020/21.

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

On a month-on-month basis, the imports from Germany increased 5.50 per cent during June 2021, compared with the imports of $123.180 million in May 2021, the SBP data showed.

The overall imports into the country increased 23.23 per cent to $53.784 billion from $43.645 billion, the data revealed.

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

Also Read

Pakistan stocks remain bullish on IMF tranche

KARACHI: The Stock Exchange (PSX) continued its bullish run on Tuesday, as...