Daily Times

Pakistan’s goods and services trade with Germany witnessed a surplus of 70.41 percent during the first half of the current fiscal year (2022-23) as compared to the corresponding period of last year.

Trade surplus during the period under review was recorded at $404.357 million against $237.281 million last year, showing 70.41 percent growth.

The overall exports to Germany were recorded at US $881.045 million during July-December (2022-23) against exports of US $864.241 million during July-December (2021-22), showing growth of 1.94 percent, SBP data revealed. On a year-to-year basis, the exports to Germany however decreased 21.87 percent from $172.980 million in December 2021, against the exports of $135.137 million in December 2022.

Meanwhile, on a month-on-month basis, the exports to Germany dipped by 03 percent during December 2022 as compared to the exports of $139.461 million in November 2022, the SBP data revealed.

Overall Pakistan’s exports to other countries witnessed a decrease of 6.76 percent in the first six months, from US $15.242 billion to US $14.211 billion, the SBP data revealed.

On the other hand, the imports from Germany into the country during the period under review were recorded at US $476.688 million against US $626.960 million last year, showing a decline of 23.96 percent in July- December (2022-23). On a year-on-year basis, the import for Germany also witness a decrease of 34.34 percent from US $116.841 million in December 2021, against the imports of US $76.710 million in December 2022.

On a month-on-month basis, the imports from Germany into the country however increased by 4.63 percent during December 2022, as compared to the imports of US $73.310 million during November 2022, according to the data.

The overall imports into the country witnessed a decrease of 18.24 percent, from US $36.094 billion to US $29.509 billion, according to the data.