Pakistan’s exports to Western Europe increase to $2.56bn

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ISLAMABAD: The country’s exports to Western European countries have increased by 1.32pc to $2.56 billion in the first three quarters (July-March) of the fiscal year 2018-19, as compared to the exports of $2.52 billion during the same period of the preceding year.

However, on a year-on-year basis, the exports witnessed a decline of 4.96pc as they fell to $280.544 million in March 2019 from $295.198 million in March 2018, according to the latest data released the by State Bank of Pakistan.

As per details, the country’s exports to Belgium decreased from $484.9 million in July-March 2017-18 to $451.43 million in the same period of the current fiscal year, showing a decline of 7.4pc.

Similarly, exports to Germany also witnessed a declining trend as it fell to $969.371 million in the first three quarters of the current fiscal year from $1.02 billion in the same period of last year.

Exports to Switzerland decreased by 22.29pc to $75.88 million in July-March 2018-19 from $97.648 million a year ago.

On the other hand, the country’s exports to the Netherlands witnessed an increase of 24.6pc, as it rose to $707.004 million in the period under review against the exports of $567.38 million in the same period of last year.

The exports to France also witnessed a slight increase of 0.97pc, as it rose to $341.9 million from $338.615 million in first nine months of the year 2017-18.

Meanwhile, exports to Eastern European countries during the period under review increased by 3.85pc to $417.058 million as compared to the exports of $401.571 million during the same period of last year.

Moreover, exports to Northern Europe increased to $1.741 billion in July-March 2018-19 from $1.734 billion in the same period of last year.

The United Kingdom remained the major importer of Pakistani goods during the period as it imported $1.318 billion during first three quarters of the current fiscal year as compared to $1.325 billion in the same period of the previous fiscal.

The exports to Southern Europe, however, declined to $1.541 billion from $1.546 billion in the corresponding period of the year 2017-18.

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