Arsalan Ali

Pakistan’s exports to France and Belgium surged by 22% and 23% respectively during the fiscal year 2021-22 compared to FY20-21, reports WealthPK quoting the data of the State Bank of Pakistan (SBP).

Exports to France reached $531.565 million during FY22 compared to $435.471 million in the same period of FY21, according to the provisional data shared by the SBP.

Pakistan had a trade surplus of $15.975 million with France during the period under consideration, while trade surplus during FY21 stood at $85.916 million.

However, month-on-month (MoM) exports to France surged by 36% to $58.482 million in June 2022 from $42.992 million in the previous month of the same financial year.

Year-on-year (YoY) exports to France grew by 44%, reaching $58.482 million in June 2022 from $40.594 million in the same month of FY21.

According to the UN COMTRADE database, the top export items from Pakistan to France are textile products, cereals, and cotton. The other export items include optical, photo, technical, medical apparatus, pharmaceutical products, vegetables and certain roots and tubers, tools, implements, and cutlery of base metal.

Import analysis shows that during FY22, imports from France surged by 47% and reached $515.590 million from $349.555 million in FY21. On MoM basis, imports from France surged by 210% to $102.413 million in June 2022 from $33.001 million in the previous month of FY22. On YoY basis, imports from France increased by 237% to $102.413 in June 2022 from $30.387 million in the same month of FY21.

Data shows that the top import items from France include pharmaceutical products, machinery, nuclear reactor, boilers, aircraft, spacecraft, organic chemicals, electric and electronic equipment, mineral fuels, oil, and distillation products.

Meanwhile, exports to Belgium surged by 22% to $716.710 million in FY22 up from $584.370 million in FY21. During this period, trade was in Pakistan’s favor. Trade surplus with Belgium reached $167.344 million in FY22 from $164.471 million compared to the previous financial year. However, MoM basis, exports to Belgium increased by 14% to $68.459 million in June 2022 from $59.966 million in the previous month of the same financial year.

Imports from Belgium declined by 43% YoY and reached $27.229 million in June 2022 from $48.010 million in the same month of FY21. Imports from Belgium include pharmaceutical products, machinery, nuclear reactor, boilers, plastics, iron and steel, vehicles other than railways, tramways, ship boats, and other floating structures.

Independent News Pakistan-Wealthpk