Daily Times

Trade volume between Pakistan and the UK during October 2020 remained $248 million compared to $216 million during October 2019, depicting an increase of 15 percent.

According to the Economic Trade and Investment Wing of Pakistan High Commission London, Pakistan exports to the United Kingdom (UK) increased to $200 million during the month of October 2020 as compared to $154 million in the corresponding month of last year, showing an increase of around 30 percent.

Likewise, Pakistan imports from the UK in October 2020 stood at $48 million compared to the imports of $62 million in the corresponding month of last fiscal year, showing a decline of 23 percent.

Similarly, the balance of trade between the two countries during the month of October 2020 registered at $152 million compared to $92 million in the same period of 2019, indicating an increase of 65 percent.

The officials added that all major export categories during the month of October registered remarkable increase in the UK markets despite COVID-19 pandemic and suppressed demand and reduced global imports.

The chapters, they said, which registered increased included Home textile (27 percent), Apparel non-knitted or crocheted (16 percent) and Articles of apparel, accessories, knit or crochet (26 percent).

Other chapters which have shown increase were Cereals (55 percent), Beverages, spirits and vinegar (100 percent), Vegetables, fruits, nuts etc, food preparations (55 percent) etc.

They said that chapters where Pakistan’s exports registered decline during the month of October 2020 were Articles of leather (19 percent), Toys, games, sports requisites (4 percent) and Edible, fruit, nuts, peel of citrus fruits, and melons (48 percent).

They said that imports into Pakistan from the UK recorded a considerable decline 0f 23 percent which helped Pakistan further improve its trade balance with the UK by 65 percent.

Pakistan’s Exports to the United Kingdom (UK) during the July-September 2020-21, despite COVID-19 stood at US $ 465 million as compared to US $ 414 million achieved in the same period of the last fiscal year, depicting an increase of 12 percent.

Pakistan imports to the UK during the period July-September 2020-21 also registered US $ 152 million as compared to US $ of 168 million achieved in the corresponding period of last fiscal year registering a decrease of Minus (-10) percent.

Similarly, the bilateral trade volume during July-Sept 2020-21 registered at US $ 617 million as compared to US $ 582 million achieved in the same period of last fiscal, depicting an increase of 6 percent.

Similarly, the balance of trade during July-Sept 2020-21 was US $ 313 million compared to US $ 246 million in the same period of previous fiscal showing and increase of 27 percent.