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surplus trade
surplus trade
EconomyLatest

The surplus trade volume of Pakistan with Southern European countries has experienced a rise.

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During the current financial year, Pakistan has seen an increase in its surplus trade with Southern European countries.

As per data from the State Bank, in the initial 5 months of this financial year, Pakistani exports to Southern Europe rose by 4.10%, while imports from the same region decreased by 16.77% on an annual basis.

Between July and November, the country generated $1.311 billion in foreign exchange from exports to Greece, Italy, Spain, and other Southern European countries, marking a 4.10% increase compared to the corresponding period in the previous financial year. Notably, the earnings from exports to these countries amounted to $1.260 billion.

In November, the export volume to Southern Europe reached $245.74 million, surpassing the figures from both October ($292.44 million) and November of the preceding year ($243.11 million).

For the financial year 2023, Pakistan accumulated $2.980 billion in foreign exchange from exports to Southern European countries. The data also reveals a 16.77% reduction in imports from Southern Europe during the first 5 months of the current financial year, with foreign exchange expenditure decreasing from $350.44 million to $300.10 million in comparison to the same period in the previous financial year.

In November, the import volume from Southern Europe stood at $87.44 million, showing an increase from October ($66.35 million) and November of the previous year ($67 million). The total foreign exchange expenditure on imports from Southern Europe in FY 2023 amounted to $883.89 million.

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