Pakistan’s exports to Western Europe increase to $2.56 billion
- By Web Desk -
- May 08, 2019
ISLAMABAD: Pakistan’s exports to Western European countries have seen an increase of 1.32pc in the first three quarters (July-March) of the fiscal year 2018-19, compared to the exports of $2.52 billion during the same period of the preceding year, this year marked an upward trend with $2.52 billion.
The exports observed a descend of 4.96 percent falling from $280.544 million in March 2019 from $295.198 million in March 2018 in a year-on-year comparative analysis, according to the data released by the State Bank of Pakistan.
The details entail a drop in exports to Belgium, from $484.9 million in July-March 2017-18 to $451.43 million in the same period of the current fiscal year, showing a considerable decline of 7.4 percent.
Similarly, export items for Germany also witnessed a decline in the trend, falling to $969.371 million in the first three quarters of 2019, from $1.02 billion recorded in the same time frame last year, 2018.
Netherlands showed a positive growth trend when an increase of 24.6pc was recorded, as it rose to $707.004 million against the exports of $567.38 million in the same period last year.
Meanwhile, exports to Eastern European countries increased by 3.85pc to $417.058 million in comparison to exports of $401.571 million last year. Upward trends in exports were also observed in France, Northern Europe and the United Kingdom compared to the export performance and numbers of 2018.
The United Kingdom remained the cornerstone of Pakistani goods export, importing $1.318 billion worth of exports during first three quarters of the current fiscal year.