Kanwal Naseer

Pakistan's trade in goods and services with Italy saw a surplus of 104.10% during the first four months of the current fiscal year (2022-23) compared to the same time previous year, according to data from the State Bank of Pakistan (SBP). The trade surplus during the reviewed months was $198.550 million, up 10.65% from $97.276 million the previous year. Overall exports to Italy totalled $401.020 million from July through October of this year, compared to $327.871 million during the same months last year, a 22.31% rise.

During October 2022, exports to Italy climbed by 23.63% year over year, from $75.095 million to $92.842 million. However, month-over-month shipments to Italy decreased by 16.38% in October 2022 compared to September 2022 exports of $ 111.038 million. According to the SBP data, Pakistan's exports to all nations increased overall by 2.60% in just four months, from $9576.107 million to $9825.020 million.

Contrarily, imports from Italy during the reviewed months were $202.470 million, down from $230.595 million during the same period last year, representing a decline of 12.19%. In the meantime, year-over-year imports from Italy fell by 33.70% in October 2022, from $48.803 million to $32.353 million. When compared to the imports of $53.621 million in September 2022, the imports from Italy declined by 39.66% in October 2022. During the period under study, total imports dropped by 11.66%, from $23324.945 million to $20617.080 million, the SBP figures showed.

Credit : Independent News Pakistan-WealthPk