2.68 percent surplus witnessed in Pak-Germany trade: SBP

ISLAMABAD (PEN) – Pakistan’s goods and services trade with Germany witnessed surplus of 2.68 percent during fiscal year (2020-21) as compared to the corresponding period of last year.

The overall exports to Germany were recorded 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, according to State Bank of Pakistan (SBP).

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 during FY 2020-21, from $22.536 billion to $25.629 billion, the SBP data showed.

On the other hand, the imports from Germany into the country during the period were recorded at $1148.035 million against $949.280 million last year, showing increase of 20.93 percent during FY 2020-21.

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.