Pakistan’s exports to Germany show 8.79pc increase in 8 months

ISLAMABAD: Pakistan’s exports of goods and services to Germany has witnessed an increase of 8.79 percent during the eight months of financial year (2020-21) as compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to Germany were recorded at $989.729 million during July-February (2020-21) against exports of $909.755 million during July-February (2019-20), showing growth of 8.79 percent, SBP data revealed.

Meanwhile, on year-on-year basis, the exports to Germany during February 2021 also increased by 5.48 percent, from $110.430 million against the exports of $116.489 million.

On month-on-month basis, the exports to Germany however decreased by 6.39 percent during February 2021 as compared to the exports of $124.448 million in January 2021, the SBP data revealed.

Overall Pakistan’s exports to all countries witnessed decline of 2.26 percent in eight months, from $16.438 billion to $16.065 billion, the SBP data revealed.

On the other hand, the imports from Germany into the country during the period under review were recorded at $698.732 million against $658.180 million last year, showing increase of 6.16 percent in eight months of this year.

Meanwhile, on year-on-year basis, the imports from Germany during February 2021 dipped by 11.04 percent, from $104.285 million last year to $92.769 million.

On month-on-month basis, the import from Germany also decreased by 10.23 percent during February 2021 when compared to the import of $103.344 million in January 2021, the SBP data revealed.

The overall imports into the all countries increased by 8.59 percent, from $29.604 billion to $32.149 billion, according to the data.