Pak-Germany trade witnesses over 78pc surplus in seven months
Business
Pak-Germany trade witnesses over 78pc surplus in seven months
ISLAMABAD (Dunya News) – Pakistan's goods and services trade with Germany witnessed a surplus of 78.25 percent during the first seven months of the current fiscal year (2022-23) as compared to the corresponding period of last year.
Trade surplus during the period under review was recorded at $455.423 million against $255.495 million last year, showing 78.25 percent growth.
The overall exports to Germany were recorded at US $1010.323 million during July-January (2022-23) against exports of US $992.295 million during July- January (2021-22), showing growth of 1.81 percent, SBP data revealed.
On a year-to-year basis, the exports to Germany also witness a nominal increase of 0.95 percent from $128.054 million in January 2022, against the exports of $129.277 million in January 2023.
Meanwhile, on a month-on-month basis, the exports to Germany dipped by 4.33 percent during January 2023 as compared to the exports of $135.137 million in December 2022, the SBP data revealed.
Overall Pakistan's exports to other countries witnessed a decrease of 7.40 percent in the seven months, from US $ 17.742 billion to US $ 16.429 billion, the SBP data revealed.
On the other hand, the imports from Germany into the country during the period under review were recorded at US $554.490 million against US $736.800 million last year, showing a decline of 24.74 percent in July- January (2022-23).
On a year-on-year basis, the imports for Germany also witness a decrease of 29.16 percent from US $109.840 million in January 2022, against the imports of US $77.802 million in January 2023.
On a month-on-month basis, the imports from Germany into the country however increased by 1.42 percent during January 2023, as compared to the imports of US $76.710 million during December 2022, according to the data.
The overall imports into the country witnessed a decrease of 20.91 per cent, from US $42.297 billion to US $33.451 billion, according to the data.
